Ambak Secures $7M, Targets 35 Cities & $1B in Home Loans

January 28, 2025: Ambak, a fintech platform which is engaged in the business of simplifying the home loan process has secured $7 million to grow its market footprints in new cities and upgrade its technology portfolio.

The fresh capital will be infused by Ambak’s to back its growth plans that include foray into 35 cities, accomplish its target of $1 billion in loan disbursements by FY26, and support 100,000 customers per year.

Rameshwar Gupta, CTO of Ambak stated, “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.”

The fintech firm which claims to provide unmatched transparency, efficiency, and security to both customers and home loan distributors has served more than 15,000 customers, partnered with 50+ lenders, and signed an agreement with the Delhi Development Authority to serve an additional 35,000 clients.

Ambak Targets to Distribute $20 Billion in Home Finance Annually in Next Five Years

“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 & properties, customers find it hard to find the right lender and handle the process. Ambak’s mission is to distribute $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,” said Raghuveer Malik, CEO of Ambak.

Ashish Agrawal, Managing Director, Peak XV comments “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.”

The latest round included Seed and Pre-Series A investments, led by Peak XV Partners, alongside contributions from Advantedge VC, DeVC, and angel investors.

Founded in January 2024 by a team of experienced executives from Policybazaar, Paisabazaar, Freecharge, and CarDekho, Ambak aims to solve inefficiencies in a sector often lamented for its complexity and Cloudiness.

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