Funds will be used to extend operations to 35 cities, with the aim of serving more than 100,000 customers and exceeding $ 1 billion in Loan Disabilities per FY6.
“We are going to extend geographically. Now that we have done what we are doing, we have built our technology around it. We plan to operate in more than 35 cities in India. Most of the geographic expansion, count Hold on our current model, will not be very expensive. Raghuveer Malik said and. It currently operates in around eight cities.
Founded in 2024, the startup based in Gurugram offers a market for domestic loans and loans against property, helping customers throughout the process. It has more than 50 lenders and serving more than 15,000 customers, as well as 3,000 intermediaries such as manufacturers and brokers.
“Personal loans, credit cards, salary accounts, FDs, mutual funds, insurance has been digitized quite spectacular in the past 10 years, but no one has paid attention to finances to finances Home as such, “said Malik. He added that home financing represents 50% of all the country’s retail loans, real estate being an industry of $ 500 billion.
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The platform takes advantage of the analysis of data and recommendations focused on AI to help customers choose the right financier. “We have integrations with financial platforms to ensure that the customer disbursement process takes place transparent, allowing them to own their homes,” he said, adding that the platform will cross about Rs 300 Brooding in loans this month.
The company also works on the development of AI regional robots to improve customer awareness and improve its IA / ml loan processing engine.
“We want to build these internal regional language tools, both from the point of view of the damage of customers and the possibility of communicating with them, as well as from the point of view of the management of documents which enter without making Errors in our system “,” Malik said, noting that documents in certain states are made in local languages.
Commenting on the investment, Ashish Agrawal, Managing Director, PEAK XV, said: “Mortgages represent the largest credit market in India. The founding team of Ambak is delivered with solid relevant experience and we are impressed by their early execution. We believe that they can take advantage of technology effectively to resolve various needs of borrowers, intermediaries and banks on the mortgage market. »»