9 Unicorns, Varanium NexGen Fund, JITO Angel Network, CREDAI Members Network, Blacksoil, and Earlsfield Capital, among others, have invested in Homeville, a financial technology business that specialises in home financing.
As part of its housing credit enablement network, the firm runs three platforms. The HomeCapital platform was the first in India to offer down payment help and is now the industry leader, with over US$250 million in home transactions handled through the platform.
“We created India’s first down payment assistance programme to help first-time house purchasers get into their homes faster. We are expanding our commitment to house purchasers and India’s housing finance ecosystem with our digital mortgage product and co-lending platform for affordable home finance,” said Madhusudan Sharma, co-founder of Homeville.
Through its technology-driven platforms, Homeville is establishing a housing credit enablement network. The platforms meet consumer demand for housing credit and provide credit rails that allow institutional money to flow smoothly into retail credit assets tied to housing. With its technology-enabled solutions for house purchasers, the firm has been a pioneer.
“Homeville’s platforms address the issues that millennial house purchasers and the real estate industry confront. The business wants to assist grow the $100 billion housing sector, which is expected to grow to $500 billion by 2025. “This firm is focused on assisting individuals in purchasing their first house, facilitating the flow of credit to affordable housing, and sharing lending infrastructure across housing finance companies,” stated Jaxay Shah, MD of Savvy Group, JITO Angel Network Investor, and CREDAI Ex National President.
On the mortgage side of the financial services sector, Homeville is leading the charge to provide open banking solutions.
The technical architecture of the firm is built on open banking concepts and designs. With an in-house technological stack powering its platforms, it achieves substantial operational leverage.
“In the enormous Indian housing ecosystem, the business is constructing the needed credit network and fintech rails. This will hasten the completion of all missions and have a significant societal impact. Apoorva Ranjan Sharma, Founder 9Unicorns and Venture Catalysts, said, “We are backing a solid team with outstanding leadership and execution track record.”
The company’s second platform, Bharat Housing Network, creates a co-lending infrastructure in affordable housing financing to provide credit to people at the grassroots level.
“Housing is a top concern for governments and authorities worldwide. Because of the long-term and secure nature of housing finance assets, new generation technology businesses have a lot of room to construct intriguing fintech models. Varanium Capital Partner Aparajit Bhandarkar remarked, “Homeville is well-positioned to be a market leader in the technology sector pushing home finance digitally.”
The third platform, HomeNxt (B2C), is a digital mortgage platform that leverages India’s technology stack for mortgage underwriting and delivery. It is presently in beta. For the digital mortgage journey, the business is developing the whole software stack.
Lalit Menghani, Madhusudan Sharma, and Prasad Ajinkya, all IIM grads, created Homeville. The latest financing will be utilised to enhance its technological infrastructure and scale the mortgage platforms that serve millennial house purchasers as well as affordable home buyers.