Pune city, India. Credit: avhad raj, Shutterstock.
Altum Credo Home Finance, a Pune-based affordable housing lender, has secured ₹170 crore (around €18.7 million) in equity funding from British International Investment (BII), the UK’s development finance institution and impact investor.
The announcement was made on August 25, 2025, with both firms highlighting the deal’s role in expanding credit access for low-income households in India.
BII backs expansion into underserved housing markets
Founded in 2016, Altum Credo provides long-tenure home loans mainly to first-time, low-income buyers with informal or semi-formal incomes. The fresh capital will be used to expand operations across southern and western India, improve technology and IT infrastructure, and support home construction and essential services like sanitation and electricity.
“We greatly value the continued support and confidence shown by British International Investment through this fresh equity infusion,” said Vikrant Bhagwat, Managing Director and CEO of Altum Credo, as reported by Business Standard. “This investment further strengthens our balance sheet for a long-term sustainable impactful growth journey and our commitment to cater meaningfully to the large unmet demand for affordable housing finance in India.”
Shilpa Kumar, Managing Director and Head of India at BII, said: “We are continuing our investment with Altum as it aligns with BII’s commitment to inclusive growth by expanding access to affordable housing finance for communities across India. Through this partnership, Altum is enabling low-income households, especially women, to access safer, more secure homes and essential services.”
Financial growth and track record
Altum Credo has served more than 15,000 customers across six Indian states. In the financial year ending March 2024, the company reported a 67 per cent increase in operating revenue, while net profit more than doubled, according to Entrepreneur.
The company has raised close to $80 million (€73.5 million) in total funding so far, including a $40 million (€36.7 million) round in April 2023 led by Z3Partners and Oikocredit.
India’s affordable housing finance boom
Altum Credo’s latest funding arrives at a time of rising investor interest in the sector. Another recent deal involved Weaver Services raising $170 million (€156 million).
With BII doubling down on its investment, India’s affordable housing sector seems set for explosive growth.
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