Unmeed Housing Finance Raises US$9 Million from LGT Impact and Lok Capital (Asia)
Source(s): VCCircle | Date: 24 September 2018 | Author(s): Keshav Sunkara
Private equity impact investors LGT Impact and Lok Capital have committed INR650 million (approximately US$9 million) in a Series C financing round for Unmeed Housing Finance, an India-based provider of home loans to low- and middle-income families. LGT invested INR600 million (approximately US$8.3 million), and Lok, which also participated in the company’s Series B round in May 2017, committed the remaining INR50 million (approximately US$700,000). Focusing on the states of Delhi, Haryana, Rajasthan and Uttar Pradesh, Unmeed provides loans ranging from INR300,000 (US$4,000) to INR2.5 million (US$35,000) for home purchase, construction and improvement. The company plans to use the new funds to expand its client base.