Founded in 2016, Ummeed Housing caters to the informal and the low-income segment predominantly in Tier-II and Tier-III towns and operates through 26 hubs in Rajasthan, Haryana, Delhi NCR, and Uttar Pradesh. The company has built out a fully digitised loan approval and disbursal process, which allows for a quick turnaround of customer requests.
It has successfully tapped a diversified mix of lenders, which includes domestic and foreign banks and financial institutions. While the company’s primary focus continues to be on the housing loan segment, it also offers secured business loans to the MSME sector.
Gurgaon-based Ummeed Housing Finance Private Limited (UHFL) raised Rs 164 crore ($23.5 million) equity funding in a Series D round, led by global investor Morgan Stanley Private Equity Asia, which acquired a minority stake. This comes on the back of the $10 million equity raised by the housing finance company in September 2018.
Morgan Stanley Private Equity Asia as an investor in Ummeed. they believe that this investment is a strong testament to the company’s robust operating model and focus on asset quality and will help Ummeed scale as a distinctive player in the affordable housing finance space.