Housing finance platform Weaver Services has announced agreements to secure $170 million (approximately ₹1,481.5 crore) in a funding round led by Lightspeed and Premji Invest, with participation from Gaja Capital. This funding round, pending regulatory approval, is amongst the largest recent investments in affordable housing finance.
Weaver is committed to a technology-first approach, focusing on underserved segments like self-employed individuals in tier-II and tier-III cities.
The company has acquired Capital India Housing Finance as a foundational asset and plans to acquire additional assets to achieve initial scale, currently evaluating various options.
Weaver emphasized that this investment will enhance its ability to acquire assets, support technology advancements, and expand its presence in target cities.
“We see a distinct opportunity to effectively leverage technology in providing home loans to the informal sector while ensuring improved customer selection, robust risk management, and heightened productivity,” stated Anil Kothuri, Managing Director and CEO of Weaver Services.
Weaver is spearheaded by founder and Vice Chairman Satrajit Bhattacharya, a former executive at HDFC Ltd., along with Kothuri, who has an extensive background in senior positions at FedFina, Edelweiss, and Citi. The company is developing AI-driven underwriting models using alternative data to assess creditworthiness, aiming to streamline loan approvals and enhance inclusivity.
“We believe India’s housing finance market is under-penetrated, representing a significant opportunity,” remarked Anuvrat Jain, Principal – Growth Investments at Lightspeed. “Weaver’s blend of deep sector expertise, AI capabilities, and a technology-centric approach positions them to democratize home ownership for millions of underserved Indians.”
