India's Ummeed Housing Finance raises $28m from BII

India's Ummeed Housing Finance raises $28m from BII

Ashutosh Sharma, Founder & Managing Director, Ummeed Housing Finance

Gurugram-based Ummeed Housing Finance (UHFPL) has secured Rs 250 crore (about $28 million) in financing from British International Investment (BII), the UK’s development finance institution and impact investor.

The funding will help Ummeed expand access to long-term mortgage-backed loans for low-income and underserved borrowers, with a particular focus on empowering women through homeownership.

Founded in 2016 by Ashutosh Sharma, Ummeed provides affordable housing loans and secured small-ticket business loans to self-employed individuals in the low- and middle-income categories. It has disbursed loans to over 33,000 customers, with assets under management exceeding Rs 2,400 crore. The company operates across nine states with more than 130 hubs.

This funding comes amid rising investor interest in India’s affordable housing finance sector. Recent deals include Nivara Home Finance’s $28 million round, Vridhi Home Finance’s $37 million raise, and a $50 million loan for Vastu Housing Finance Corporation.

India remains a strategic focus for BII, accounting for over 20% of its balance sheet. The institution has committed $2.6 billion in the country, including recent investments in Enerica Regrid Infra, Charge Zone, Vivriti Funds, and South Asia Growth Fund III.

It also comes more than a year after Ummeed raised $76 million in funding from A91 Partners LLP, Mirae Asset Venture Investments (India), Anicut Capital and existing investor Norwest Venture Partners, providing an exit for Lightrock Global Fund S.A., which had invested in Ummeed in 2018.

Prior to that, it raised around $40 million in two tranches in 2021 from Norwest Venture Partners and Morgan Stanley Private Equity Asia in its Series E round. The company also counts LGT Lightstone Aspada and CX Partners among its backers.

Edited by: Pramod Mathew

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter


This is your last free story for the month. Register to continue reading our content