Vridhi Home Finance is a housing finance company established in 2022 and headquartered in Bengaluru, Karnataka, India. Founded by Sunku Ram Naresh along with Sandeep Arora and Sunil Mehta, Vridhi Home Finance aims to provide affordable housing loans to underserved segments, including self-employed and informal income customers. As of the latest updates, the company has successfully raised significant capital, approximately Rs 460 crore between its Series A and B funding rounds led by Elevation Capital and Norwest Venture Partners. With a focus on leveraging technology, Vridhi Home Finance strives to democratize homeownership across India.
| Attribute | Information |
|---|---|
| Founding Date | January 5, 2022 |
| Headquarters | Bengaluru, Karnataka, India |
| Founders | Sunku Ram Naresh, Sandeep Arora, Sunil Mehta |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Elevation Capital, Norwest Venture Partners |
| Industry | Financial Services (Housing Finance) |
| Number of Employees | Approximately 200 |
| Branches | 51 across 5 states |
Vridhi Home Finance was initiated by seasoned finance professionals to address the limited availability of formal credit for housing in tier 2/3 cities and rural areas of India. Incorporated in early 2022, the company leveraged its founders' experience in financial services and aimed to create a unique market niche by focusing on affordable housing loans. Within its first year, Vridhi Home Finance raised Rs 150 crore in Series A funding, which provided a significant boost to its operations and strategic expansion initiatives. This early funding allowed Vridhi to rapidly establish itself across several key states in India.
Vridhi Home Finance operates as a "phygital" (physical + digital) platform, combining traditional branch services with cutting-edge digital solutions. A major milestone for Vridhi was obtaining its NBFC-HFC license in 2023, enabling it to operate as a fully-fledged housing finance company. The company’s achievements include:
Vridhi Home Finance strategically positions itself as a tech-enabled brick-and-mortar entity focusing on niche market segments often overlooked by traditional lenders. As of 2024, it holds assets under management exceeding Rs 200 crore and aims to increase this figure significantly through expanded market reach and enhanced digital capabilities. The company capitalizes on India’s accelerating demand for housing due to urbanization and economic growth, providing loans for pre-built homes, construction, renovation, and other housing needs. Vridhi differentiates itself by offering competitive interest rates and line of credit to traditionally underserved individuals.
Vridhi Home Finance stands out in the Indian housing finance sector by focusing on high-potential yet underserved markets. With substantial backing through strategic funding and a robust operational framework, Vridhi is poised to continue its expansion and influence in the affordable housing finance space. As India's mortgage market continues to grow, Vridhi's commitment to inclusivity and technological integration places it in a favourable position to capture a significant share while supporting homeownership aspirations for many Indians.