Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
US International Development Finance Corporation sanctions $20 million loan for Ummeed Housing Finance
The American funding body will provide the debt at a 4.25% fixed rate for 15 years, Ummeed's founder and managing director Ashutosh Sharma said. "This DFC facility would allow us to extend longer tenure credit to the underbanked population to assist with home purchases, construction, and extension. This will also help us diversify the wagon wheel of liability while the funding is attractive from an interest rate perspective," Sharma told ET.The US International Development Finance Corporation (DFC) has sanctioned a $20 million long term loan for Gurgaon-based Ummeed Housing Finance to fund housing needs of the economically weaker and middle-income groups.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
India Digest: Ummeed Housing Finance secures $20m; Fintech firm Kiwi planning to raise $15m
Ummeed Housing Finance has secured a loan of up to $20 million from the US International Development Finance Corporation, while Kiwi is planning to raise $15 million from Omidyar and Nexus Venture Partners.
Ummeed Housing Finance bags $20m from US DFC
Digital affordable housing finance company Ummeed Housing Finance has secured a loan of up to $20 million from the US International Development Finance Corporation (DFC).
The funding will be used for providing long-tenure housing finance to the economically weaker sections, lower-income groups, and middle-income groups in tier 2, 3, and 4 cities in India.
DFC will fund approximately 2,000 new, low-ticket mortgages, averaging $11,600 (around Rs 9 lakh) in size, with tenures of up to 15 years. DFC is the US government’s development finance institution that works with the private sector to channel development capital into emerging markets.
Founded in 2016, Ummeed Housing Finance provides affordable housing finance to the underserved and underbanked population and operates through 84 branches in seven states across north and central India.
Kiwi planning to raise $15m from Omidyra, Nexus
India-based virtual credit card platform Kiwi is planning to raise $15 million from Omidyar and Nexus Venture Partners, reported Entrackr.
Early-stage investor Omidyar is expected to invest $7 million in the funding round, which would value the company between $70-80 million, added the report.
Kiwi had raised $6 million in a pre-seed round of funding from several investors, including Nexus Venture Partners, Stellaris Venture Partners, and a host of angel investors, in May this year.
Co-founded by fintech experts Siddharth Mehta (ex-CEO, Freecharge), Mohit Bedi (ex-Axis Bank and PayU), and Anup Agrawal (ex-business head, LazyPay), Kiwi has launched an app that will help customers avail credit on UPI by issuing Rupay Cards in partnership with banks.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
UMMEED HOUSING FINANCE RECEIVES RS 160 CR SANCTION FROM US GOVT’S DFC
Ummeed Housing Finance Receives Rs 160 Cr Sanction From US Govt’s DFC
Ummeed Housing Finance Private Limited (UHFPL), a Gurgaon based digital affordable housing finance company (HFC), has received a sanction of up to $20 million (approx. Rs 160 crore) from the U.S. International Development Finance Corporation (DFC). The funding will be used for providing long-tenure housing finance to the Economically Weaker Sections (EWS), Lower-Income Groups (LIGs) and Middle-Income Groups (MIGs) in Tier 2, 3 & 4 cities in the country.
“We are also proud to announce that Ummeed has been recognized as a 2X Challenge eligible enterprise, championing the expansion of housing finance opportunities to women, reinforcing our commitment to gender equality and economic empowerment. The 2X Challenge is a global initiative supporting women's economic empowerment by mobilizing capital to invest in businesses and projects that benefit women in emerging markets."
DFC is the US government’s development finance institution that works with the private sector to channel development capital into emerging markets. In this instance, DFC is partnering with UHFPL to fund approximately 2,000 new, low-ticket mortgages, averaging $11,600 (around Rs 9 lakh) in size, with tenures of up to 15 years.
The project is expected to create a positive impact in Tier 2, 3 & 4 cities of India by improving access to institutionalized credit through affordable housing finance. Ashutosh Sharma, Founder & Managing Director, UHFPL, said, “It is a proud moment for us to be associated with the U.S. International Development Finance Corporation. This DFC facility allows us to extend long dated credit to the underbanked population to assist with home purchases, construction, and extension. Our programme strongly encourages women co-ownership on these loans and properties. Our technology-enabled platform delivers shorter turnaround times on these loans which is an important requirement from our customer segment”.
“This is an important transaction that will provide vital financing to support increased access to affordable housing in India,” said James Polan, Vice President of DFC’s Office of Development Credit. “The project will help India meet its growing demand for affordable housing and grow homeownership among women.”
UHFPL began its journey in 2016 and provides affordable housing finance to the underserved and underbanked population, and now operates through 84 branches in seven states across North and Central India.
The company has developed a fully digitized loan approval and disbursal system, which allows for a quick turnaround of customer requests. While the company’s primary focus continues to be on the housing loan segment, it also offers secured business loans to the MSME sector. The company offers loans in the range of Rs 3 lakh to Rs 50 lakh for home purchases, home construction, home renovations and repairs, loans against property, and business loans. The company has disbursed loans to over 24,000 customers since its inception.
The company has built a strong foundation with the support of four marquee investors -- Norwest Venture Partners, Morgan Stanley Private Equity Asia, Lightrock, and CX Partners. The Rs 1,350-crore plus assets under management (AUM) validate the HFC’s strong operating model and position it well to expand further into newer geographies. The company has successfully built a broad wagon wheel of borrowings by establishing relationships with a diverse mix of more than 25 lenders, including Public & Private Sector Banks, Global Development Financial Institutions and Domestic Financial Institutions.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
Ummeed Housing Finance Secures $20M Funding from US DFC for Affordable Housing
Ummeed Housing Finance, a digital affordable housing finance company based in Gurugram, has secured up to $20 million (approximately Rs 160 crore) from the US International Development Finance Corporation (DFC). This financial infusion will be directed towards offering long-term housing finance solutions to economically disadvantaged sections and lower and middle-income groups residing in Tier II, III, and IV cities across India.
In addition to the funding, DFC is collaborating with Ummeed Housing Finance Private Limited (UHFPL) to finance around 2,000 new low-value mortgages, with an average size of $11,600 (approximately Rs 9 lakh) and tenures extending up to 15 years.
Ummeed Housing Finance embarked on its journey in 2016 with a mission to provide affordable housing finance options to underserved and underbanked populations. Currently, it operates through 84 branches spanning seven states in north and central India. Notably, the company has implemented a fully digitalized system for loan approval and disbursal, enabling swift processing of customer requests.
The company’s offerings encompass loans ranging from Rs 3 lakh to Rs 50 lakh, covering various purposes such as home purchases, home construction, home renovations and repairs, loans against property, and business loans. Since its inception, Ummeed Housing Finance has successfully disbursed loans to over 24,000 customers, fulfilling its commitment to expanding access to housing finance for diverse population segments.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
Ummeed Housing Finance Secures $20 Million From US Development Finance Corporation
UHFPL is supported by four major investors, namely Norwest Venture Partners, Morgan Stanley Private Equity Asia, Lightrock, and CX Partners.
Ummed Housing brags $20 million from USDFC: Ummeed Housing Finance Private Limited (UHFPL), a digital affordable housing finance company backed by major investors, announced on Monday that it has received a sanction of up to $20 million (approximately Rs 160 crore) from the US International Development Finance Corporation (DFC)..
This funding injection will be directed towards providing extended-term housing finance to the Economically Weaker Sections (EWS), Lower-Income Groups (LIGs), and Middle-Income Groups (MIGs) in Tier 2, 3, and 4 cities across India, as stated by the company.
UHFPL is supported by four major investors, namely Norwest Venture Partners, Morgan Stanley Private Equity Asia, Lightrock, and CX Partners.
James Polan, Vice President of DFC's Office of Development Credit, said, "This is an important transaction that will provide vital financing to support increased access to affordable housing in India,"
Channelling development capital into emerging markets
DFC, the US government's development finance institution collaborating with the private sector to channel development capital into emerging markets, is partnering with UHFPL to finance around 2,000 new, small-ticket mortgages, averaging $11,600 in size, with tenures of up to 15 years, as mentioned by the lender.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
Ummeed Housing Finance receives $20 million from US DFC
Kolkata, Sep 18 (PTI) Marquee investors-backed Ummeed Housing Finance (UHFPL), a digital affordable housing finance company, on Monday said it has received a sanction of up to USD 20 million (about Rs 160 crore) from the US International Development Finance Corporation (DFC).
The funding will be used to provide long-tenure housing finance to the Economically Weaker Sections (EWS), Lower-Income Groups (LIGs) and Middle-Income Groups (MIGs) in Tier 2, 3 & 4 cities in the country, the company said in a statement.
The company said it is backed by the four marquee investors — Norwest Venture Partners, Morgan Stanley Private Equity Asia, Lightrock, and CX Partners.
“This is an important transaction that will provide vital financing to support increased access to affordable housing in India,” said James Polan, Vice President of DFC’s Office of Development Credit.
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Ummeed In News
This is Ummeed Housing Finance Pvt. Ltd.’s Media Centre, here you can have a glimpse of our corporate and brand announcements. You can also access our press releases, media reports, interviews and articles across print, online and electronic channels.
Ummeed Housing Finance receives 20 million from US DFC
Kolkata, Sep 18 (PTI) Marquee investors-backed Ummeed Housing Finance (UHFPL), a digital affordable housing finance company, on Monday said it has received a sanction of up to USD 20 million (about Rs 160 crore) from the US International Development Finance Corporation (DFC).
The funding will be used to provide long-tenure housing finance to the Economically Weaker Sections (EWS), Lower-Income Groups (LIGs) and Middle-Income Groups (MIGs) in Tier 2, 3 & 4 cities in the country, the company said in a statement.
The company said it is backed by the four marquee investors -- Norwest Venture Partners, Morgan Stanley Private Equity Asia, Lightrock, and CX Partners.
"This is an important transaction that will provide vital financing to support increased access to affordable housing in India," said James Polan, Vice President of DFC's Office of Development Credit.
DFC is the US government's development finance institution that works with the private sector to channel development capital into emerging markets.
DFC is partnering with UHFPL to fund about 2,000 new, low-ticket mortgages, averaging USD 11,600 in size, with tenures of up to 15 years, the lender said.
"This DFC facility allows us to extend long-dated credit to the under-banked population to assist with home purchases, construction, and extension in the affordable segment. Our programme strongly encourages women co-ownership on these loans and properties," UHFPL Founder & Managing Director Ashutosh Sharma said.
The project is expected to create a positive impact in Tier 2, 3 & 4 cities of the country by improving access to institutionalised credit through affordable housing finance.
UHFPL operates through 84 branches in seven states across north and central India, the statement said, adding that the mortgage lender has Rs 1,350-crore plus assets under management.
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