Ambak, a fintech market for home loans, collects $ 7 funding led by Pic XV partners
- The founders are the former Policybazaar, Paisabazaar, Cardekho, Freeload by Axis Bank, HDFC Life and Zestmoney
- In just 12 months, Ambak served more than 15,000 house buyers and signed an official partnership with Delhi Development Authority (DDA) to serve more than 35,000 customers
Ambak, a technology-oriented market, rationalizes the mortgage process, announces funding of $ 7 million thanks to a combination of seeds and pre-series financing. The main investors include the Pic XV thrust in the seed tour, with Pic XV partners dubbing for pre-series A, Advanted VC, DEVC and providential investors, who have considerably increased their participation in the company.
The founders, PB leaders Fintech, Freeload, Cardkho Group and Zestmoney who built platforms on a scale in insurance, car loans and unsecured loans, launched Ambak in January 2024, to improve the experience of Customers and sellers of houses in a fragmented, opaque and large experience ($ 160 ($ 160 BN / annum) home finance market. Despite favorable government policies such as Pradhan Mantri Awas Yojana (Pmay), the process of Loan in India remains heavy, often confusing customers with more than 150 financiers offering loans. Banking rules.
In the first 12 months, Ambak has built its market with more than 50 lenders, extended distribution in 6 states and automated credit processes to meet the needs of more than 15,000 customers and more than 3,000 intermediaries , including manufacturers and brokers. They also signed an official partnership first of the industry with Delhi Development Authority (DDA) to serve more than 35,000 customers in the next 12 months. This growth prompted their existing investors with Pic XV, which allowed additional $ 3.7 million in January 2025 to co-create new products, build AI tools and extend distribution to all the main Centers in India.
“For a majority of Indians, the purchase of a house is the greatest financial decision they will take, but access and affordability continue to be an important obstacle. Despite more than 160 lenders serving all Types of customers and properties, customers have trouble finding the right lender and managing the process. Raghuveer Malik, CEO of Ambak.
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Ashish Agrawal, Managing Director, Pic XV sharing, “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 solve various needs of borrowers, intermediaries and banks on the mortgage market. “”
Ambak, who quietly strengthened his presence and launched its application 12 months ago, made waves in industry. The startup uses technology and integrations with digital public infrastructure services (DPI) to serve both the customer and their loan partners offering a simple and assisted process to obtain a mortgage.
“We estimated that the distribution of the secure retail sale space, in which real estate loans are the biggest element, has been riddled with lack of innovation despite lenders who have made monumental upgrades during of the last 5 years, ”said Rameshwar Gupta, CTO of Ambak which was previously the CTO of Freeload (by Axis Bank).
Ambak expansion and innovation objectives
The newly collected funds will allow Ambak to expand its operations in 35 cities and serve more than 100,000 customers, crossing a billion dollars in disbursements during financial year 26. To ensure that it remains obsessed with The customer, Ambak strengthens its loan comparison tools, developing vernacular IA robots for better awareness of customers and improving its IA / ml loan processing engine. The company co-creation of products with financiers to extend the options and deepen financial penetration across the country.
Take advantage of technology to lead the change
The Ambak platform incorporates real-time data from lenders and uses AI-oriented processes to reduce turnaround times and minimize customer confusion. By rationalizing operations, Ambak aims to stimulate the adoption of customer -centered practices which promote transparency and affordability, guaranteeing a significant boost for the home finance sector by FY32.
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Ambak is a fintech startup that revolutionizes the domestic financing industry. By combining advanced technology with a client -centered approach, Ambak simplifies the mortgage process and helps individuals realize their dreams. The platform takes advantage of data analysis, AI-focused recommendations and robust customer support to provide a transparent, efficient and stimulating experience. For more information, visit https://www.ambak.com/