Weaver Services Secures $170 Million to Transform Housing Finance in India

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Weaver Services, a tech-driven housing finance platform, raises $170 million to expand its AI-driven solutions in India’s underserved markets, particularly targeting Tier II and III cities. With strong backing from Lightspeed, Premji Invest, and Gaja Capital, the funding aims to improve accessibility for informal borrowers.

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Weaver Services, a technology-first housing finance platform, has successfully raised $170 million in a landmark funding round led by renowned investors Lightspeed and Premji Invest, with additional participation from Gaja Capital. This substantial capital injection is poised to accelerate Weaver’s mission to revolutionize home loans accessibility across India, especially in Tier II and Tier III cities where housing finance remains largely underserved.

Driving Housing Finance Innovation through Technology

Founded by industry veterans Satrajit Bhattacharya, former HDFC leader and current Founder and Vice Chairman of Weaver, and Anil Kothuri, Managing Director & CEO with extensive experience across FedFina, Edelweiss, and Citi, Weaver Services leverages a cutting-edge, AI-driven platform. This next-generation platform integrates advanced workflows and alternative data models aimed at the vast segment of self-employed and informal borrowers who traditionally face challenges in securing housing finance.

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According to Satrajit Bhattacharya, “We aim to make housing finance more accessible by leveraging technology and placing customers at the centre of our focus, thereby bringing in a new paradigm in the space.”

Anil Kothuri adds, “There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity.”

Strategic Capital Deployment for Growth and Expansion

The newly acquired $170 million funding, which awaits regulatory approvals, will be strategically allocated towards:

• Asset acquisitions to scale the mortgage portfolio
• Further development and enhancement of proprietary technology platforms
• Expansion into Tier II and Tier III cities, targeting underserved housing demand

In a move to accelerate growth, Weaver Services has already acquired Capital India Housing Finance as its anchor asset, and is actively evaluating additional acquisitions to expand its market footprint.

Backing from Leading Investors Signals Confidence

Lightspeed, managing over $30 billion in assets under management, and Premji Invest, the investment vehicle associated with Azim Premji’s endowment, have expressed confidence in Weaver’s differentiated, tech-first approach:

“India’s housing finance market remains under-penetrated, and Weaver’s AI-driven, tech-first approach positions it to democratize home ownership for millions. We are excited to partner with Satra, Anil, and the exceptional team to reimagine the housing finance landscape,” said Anuvrat Jain, Principal – Growth Investments, Lightspeed.

“The acquisition of Capital India Housing Finance marks an important first step. We see a significant opportunity to back platforms like Weaver that combine technology and scalability to drive inclusive mortgage solutions,” said Saravanan Nattanmai, Partner, Premji Invest.

“Weaver is addressing a deep-rooted gap in India’s housing finance ecosystem with a tech-led, customer-first approach. Their sharp focus on the self-employed segment, combined with disciplined execution, positions them well for the next phase of inclusive growth,” commented Gopal Jain, Managing Partner, Gaja Capital.

Addressing India’s Underserved Housing Finance Market

India’s housing finance sector continues to face significant challenges in reaching the informal and self-employed borrower base. Conventional lending models, dependent on formal income proofs and credit histories, often exclude millions from accessing affordable home loans.

Weaver’s innovative use of alternative data and AI analytics facilitates better risk assessment and credit underwriting, enabling the platform to serve these self-employed customers more effectively. This approach not only opens new market segments but also enhances overall credit quality and scalability.

Future Outlook for Weaver Services

With this considerable funding, Weaver Services is well-positioned to expand its footprint across smaller cities where housing demand has outpaced access to finance. The emphasis on technology-driven solutions, combined with strong leadership and strategic investments, empowers Weaver to reimagine housing finance in India.

By democratizing home ownership and providing inclusive mortgage solutions, Weaver is set to become a pivotal player driving affordable and accessible housing finance for millions across the country.

For related insights, read about Nikhil Kamath backing Goldi Solar with Rs 137 Cr investment, another example of transformative investments reshaping India’s innovation landscape.

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