Fintech

Home Loan Platform Ambak Secures $7 Million to Expand Technology and Reach Across India

• ByStartupStory     |    January 29, 2025

Ambak, a fintech platform specializing in home loan solutions, has raised $7 million in a funding round that includes both Seed and Pre-Series A investments. The round was led by Peak XV Partners, with participation from Advantedge VC, DeVC, and several angel investors.

The funding will enable Ambak to enhance its technology offerings and expand operations to 35 cities, with an ambitious target of $1 billion in loan disbursements by FY26.

Simplifying India’s Home Loan Process

Founded in January 2024, Ambak was established by a team of executives from Policybazaar, Paisabazaar, Freecharge, and CarDekho to address inefficiencies in India’s complex home loan sector. The platform simplifies the loan process through a transparent, three-step method that leverages Digital Public Infrastructure (DPI) and advanced bank rule engines.

Raghuveer Malik, CEO of Ambak, emphasized the platform’s vision, stating:

“For a majority of Indians, buying a home is the biggest financial decision they will ever make, but access and affordability continue to be a significant hurdle. Despite 160+ lenders serving all types of customers and properties, customers find it hard to find the right lender and handle the process. Ambak’s mission is to distribute USD 20 billion in home finance annually in the next five years, while leading the charge to provide transparency and predictability to the home-buying experience.”

Technology-Driven Lending Solution

Ambak integrates with over 50 lenders and supports more than 15,000 customers and 3,000 intermediaries, including builders and brokers. The platform’s automated credit processes have streamlined home loan procurement, creating a seamless experience for users.

Rameshwar Gupta, CTO of Ambak, who previously served as the CTO of Freecharge (by Axis Bank), highlighted the company’s innovation in secured retail lending:

“We felt that the distribution of the secured retail lending space, in which home loans is the largest component, was riddled with lack of innovation despite lenders having made monumental upgrades in the last 5 years.”

Exclusive Partnership with Delhi Development Authority

In addition to expanding its reach, Ambak has signed an exclusive partnership with the Delhi Development Authority (DDA) to serve over 35,000 customers in the next 12 months.

Ashish Agrawal, Managing Director at Peak XV, expressed confidence in the startup’s execution and potential:

“Mortgages represent the largest market for credit in India. The founding team at Ambak come with strong relevant experience and we are impressed with their early execution. We believe they can leverage technology effectively to solve for various needs of borrowers, intermediaries and banks in the mortgage market.”

Future Growth and Expansion

With the newly secured funding, Ambak aims to strengthen its foothold in the fintech space, targeting 100,000 customers annually while continuing to innovate in the home loan segment. The company is set to redefine how home loans are accessed and distributed in India, ensuring a transparent and efficient process for homebuyers.

About Ambak

Ambak is a fintech platform revolutionizing home loan solutions in India. By leveraging technology and automation, the platform simplifies the loan process, connecting borrowers with lenders seamlessly. Founded by industry veterans, Ambak is on a mission to make home finance more accessible and predictable for millions of Indians.

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