Startup Originals Team
Weaver Services, a pioneering technology-driven housing finance platform, has secured a massive $170 million investment in a funding round led by Premji Invest and Lightspeed, with participation from Gaja Capital. This infusion will support Weaver’s mission to transform the landscape of affordable housing finance in India, especially for self-employed and underserved individuals in tier-2 and tier-3 cities.
Platform Mission and Technology:
Weaver is building next-generation solutions to solve India’s vast affordable housing gap through:
- AI-Driven Underwriting: Proprietary technology leverages alternative data to assess creditworthiness, enabling faster loan approvals for segments overlooked by traditional banks.
- Inclusive Access: Focuses on self-employed and informal sector borrowers, aiming to democratize home ownership.
- Tech-First Workflows: Streamlines the lending process for efficiency and better risk management.
Strategic Moves and Asset Acquisition:
As Weaver ramps up for large-scale operations:
- The company acquired Capital India Housing Finance as its anchor asset, paving the way for rapid expansion.
- Weaver is evaluating further asset purchases to support continued growth and reach.
Expansion Goals:
The funding will be used to:
- Accelerate asset acquisitions and technology upgrades
- Expand Weaver’s reach into underserved tier-2 and tier-3 cities where the affordable housing gap is most severe
By combining domain expertise with robust technology, Weaver aims to offer frictionless, scalable, and inclusive mortgage solutions.
Leadership and Vision:
Weaver’s leadership includes:
- Satrajit Bhattacharya (Founder & Vice Chairman): Former HDFC veteran with three decades’ experience in housing finance.
- Anil Kothuri (Co-Founder & CEO): A financial services expert with experience at FedFina, Edelweiss, and Citi.
Their vision is clear: place customers at the center, use technology to optimize selection and risk, and enable superior productivity in housing finance.
Investor Perspectives:
- Lightspeed: “India’s housing finance market remains under-penetrated. Weaver brings domain depth and AI capabilities to democratize home ownership for millions,” said Anuvrat Jain, Principal – Growth Investments.
- Premji Invest: “We see significant potential to use technology for transforming affordable housing finance. Weaver’s acquisition of Capital India Housing Finance marks an important step for inclusive mortgage solutions,” said Saravanan Nattanmai, Partner.
Conclusion:
With strong backing from industry-leading investors and experienced leadership, Weaver Services is poised to reshape affordable housing finance. Their innovative, technology-led platform is set to make home ownership more accessible for millions, marking a new chapter in India’s housing sector.
