Secured credit network Bharat Housing Network raises $5 M from Symbiotics
Bharat Housing Network (BHN), a secured credit network, has raised $5 million, or approximately Rs 47 crore, through green bonds from Symbiotics.
The funding comes under a $75 million green basket bond programme structured by Symbiotics in partnership with British International Investment (BII).
Prior to this, BHN had raised Rs 125 crore ($14.5 million) in a Series A funding round led by NABVENTURES.
The latest capital will be deployed through BHN’s group NBFC, Singularity Creditworld, towards financing green assets across India. The funds will support rooftop solar projects, electric mobility financing and lending to clean-tech MSMEs.
BHN said its network has facilitated nearly Rs 2,000 crore in credit for more than 40,000 low- and middle-income borrowers. The company has also financed 7,162 KW of rooftop solar capacity and over 800 electric vehicles. According to BHN, these financed assets have the potential to prevent around 1,01,500 tonnes of CO2 emissions.
Founded by Lalit Menghani, Madhusudan Sharma and Prasad Ajinkya, BHN operates under the Homeville Group. The company provides technology and infrastructure that enables capital deployment across segments including mortgages, clean energy, mobility and gold loans.
Its investor base includes NABVENTURES, 100Unicorns, Varanium, Riverwalk and LC Nueva.
BHN is also aiming to raise up to $25 million through green bond issuances by the end of the next financial year. The planned funding will be used to scale green asset financing and extend capital to sustainable businesses and retail borrowers across India.
