Insitor, Oikocredit lead seed round in Kolkata-based Aashiyaan Housing Finance
By Joseph Rai
Kolkata-based Aashiyaan Housing & Development Finance Pvt. Ltd, which is yet to start housing finance for low-income families, said it has raised around $2 million (Rs 13.5 crore) in a seed round led by foreign social-impact investors Insitor and The Netherlands-based Oikocredit. The firm, yet to apply for a housing finance firm licence, was set up by Shubhankar Sengupta in 2016, who is founder and former CEO of Arohan Financial Services, a microfinance institution.
Journalist Swaminathan Aiyar, Columbia University professor Neeraj Kaushal and others also participated in this round, said Aashiyaan. Boutique investment bank Unitus Capital was the financial advisor to Aashiyaan for this transaction.
Photo courtesy of GotCredit.