Vridhi Home Finance secures Rs 150 crores in Series A funding

Vridhi Home Finance, a Bengaluru-based Non-Banking Financial Company (NBFC) operating as a phygital housing finance firm, has successfully raised Rs 150 crores in a Series A funding round, with Elevation Capital leading the investment. The company, founded in 2022, has pursued a bootstrap strategy up to this point, making this funding round a pivotal development.

Vridhi's primary objective is to establish a strong platform for secured housing loans, catering to both salaried and self-employed individuals residing in tier 2/3 cities across India. Currently headquartered in Bengaluru, the company has strategically expanded its operations within Karnataka and Andhra Pradesh, establishing a network of twenty branches across these regions.

This Series A funding infusion is expected to support Vridhi Home Finance in its geographic expansion endeavours, with a particular focus on North Karnataka and Andhra Pradesh. The funds will also play a vital role in enhancing the company's technological infrastructure, bolstering its workforce through new hires, and further strengthening its liability franchise.