Ambak Secures $7 Mn Funding To Revolutionise Home Loans In India

Ambak, India’s fastest-growing fintech marketplace for home loans, has raised USD 7 million through Seed and Pre-Series A funding. The funding rounds were led by Peak XV Partners’ Surge and supported by Advantedge VC, DeVC, and angel investors, demonstrating strong faith in the startup's vision to revolutionise India’s fragmented home loan market.

Founded in January 2024 by a team of former leaders from PB Fintech, Freecharge, CarDekho, and ZestMoney, Ambak addresses challenges faced by home buyers in navigating a USD 160 billion market. With over 150 financiers offering home loans, customers often struggle with opaque processes. Ambak simplifies this landscape through a transparent three-step platform supported by Digital Public Infrastructure (DPI) and proprietary AI tools.

In its first year, Ambak has served over 15,000 homebuyers and establishing partnerships with more than 50 lenders to simplify and streamline the home loan process. The company also signed a landmark agreement with the Delhi Development Authority (DDA) to assist over 35,000 customers, solidifying its position as a key player in India’s home finance market.

The company’s rapid growth and innovative approach prompted Peak XV Partners to lead a USD 3.7 million infusion this month, enabling Ambak to expand its operations to 35 cities, co-create loan products, and enhance its AI-powered solutions.

A Mission to Simplify Home Finance

"For most Indians, buying a home is the most significant financial decision, yet the process remains riddled with hurdles," said Raghuveer Malik, CEO of Ambak. "Our mission is to distribute USD 20 billion in home finance annually over the next five years while providing transparency and affordability in the home-buying journey."

Rameshwar Gupta, CTO of Ambak, added, "Despite lenders making strides in recent years, the distribution space for secured retail lending, especially home loans, lacks innovation. Ambak bridges this gap with cutting-edge technology."

Future Plans and Innovation

With the newly raised funds, Ambak plans to scale its operations significantly, aiming to serve over 100,000 customers and surpass USD 1 billion in disbursements by FY26. The company is focused on developing vernacular AI bots to enhance customer outreach across diverse demographics, improving its loan comparison tools, and refining AI/ML-based processing engines for greater efficiency. Additionally, Ambak intends to co-create innovative products with financiers, expanding loan options and deepening financial penetration across the Indian market.

Driving Change with Technology

Ambak integrates real-time data from lenders with AI to reduce loan processing times and ensure transparency. By adopting customer-centric practices, the platform aims to catalyse growth in India’s home finance sector, targeting significant milestones by FY32.

Ambak is a fintech startup redefining home financing in India. Using advanced analytics, AI-driven recommendations, and robust support, Ambak empowers individuals to achieve homeownership with ease.