BASIC Home Loan, a fintech platform for the distribution of mortgages, has raised $10.6 million (Rs87.5 crore) in its Series B funding round, while mental health startup LISSUN has raised $2.5 million. Separately, ThinKuvate has hit the first close of its India fund.
Bertelsmann leads funding in BASIC Home Loan
BASIC Home Loan, a fintech platform for the distribution of mortgages, has raised $10.6 million (Rs87.5 crore) in a Series B funding round led by Bertelsmann India Investments (BII), the strategic investment arm of German giant Bertelsmann SE & Co. KGaA.
The funding also saw participation of CE-Ventures, the venture capital platform of Crescent Enterprises, a diversified business headquartered in the UAE. Existing investor Ashish Kacholia, a well-known equity investor, invested further and increased his stake in BASIC. Other investors include Gruhas, Let’s Venture, 9 Unicorns, and Venture Catalysts.
BASIC Home Loan plans to use the newly raised funds to expand its market presence, build its own lending book, and enhance its technological capabilities. The Gurugram-headquartered fintech startup has previously raised $8.7 million across three rounds of funding.
Dexter Capital acted as the exclusive advisor to BASIC for this round.
Since its inception, BASIC claims to have assisted nearly 250,000 families across over 650 districts in acquiring their own homes and generating indirect employment for 15,000 individuals in tier-2 and -3 areas. The company has sourced loan applications totaling $12 billion+ and disbursed more than $1.1 billion in loans through its network of lenders.
RPSG Capital, others invest in LISSUN
LISSUN, a mental health-focused startup, has raised $2.5 million in its pre-Series A funding round led by RPSG Capital Ventures, it announced on Monday.
New investors including Multiply Ventures and Atrium Angels also joined, along with existing investors such as Ivycap Ventures, Rainmatter and SucSEED Venture Partners. The latest funding brings the company’s total capital raised to $5 million, it said in a statement.
“This Pre-Series A funding reinforces LISSUN’s mission to solve mental health at scale. It equips us with the crucial resources needed to expand our services, enhance our technology, grow our team, and increase our reach,” said Dr. Krishna Veer Singh, Co-founder & CEO, of LISSUN.
Launched in August 2021, LISSUN employs psychologists, special educators, speech therapists, occupational therapists, and behavioural therapists, and reaches out to individuals who may be unaware of their mental health and developmental issues.
ThinKuvate hits first close of India fund
ThinKuvate, a Singapore-headquartered angel investment platform, Monday said it has hit the first close of its India fund at Rs 25 crore. The fund is eyeing a corpus of Rs 100 crore in the final close.
More than 50% of investors in the fund are NRIs from various countries, including Singapore, Australia, the USA, the UK, and Indonesia, the firm said in a statement.
ThinKuvate India Fund-I, which was formally launched four months ago, has already invested in four high-growth startups, including Rosh.ai, Zippee, Pantherun and NymbleUp.ai, the statement added.
The fund plans to invest in 30-40 early-stage startups from seed to Series A, focusing on companies leveraging technology at the forefront. The average cheque size per investment would be Rs 1.5 crore, with the flexibility to go up to Rs 3-4 crore.
