Pune, India-based Altum Credo provides mortgages for first-time homebuyers underserved by other financial institutions. Its digital underwriting and loan disbursement process offers five to 20-year mortgages for homes valued up to 2.5 million rupees, or $30,000.
The fintech venture, which launched in 2017, has served 11,000 borrowers in a half-dozen states in India.
Altum raised a $40 million Series C equity round from Z3 Partners and impact investor Oikocredit. British International Investment, Aavishkaar Capital and others also participated. The round provided a partial exit to several early investors, which were not named.
