Home Loan Platform Ambak Secures USD 7 Mn to Scale Technology and Expand Reach Across India The round was led by Peak XV Partners, with participation from Advantedge VC, DeVC, and several angel investors.
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Fintech platform Ambak, specialising in home loan solutions, has raised USD 7 million in a funding round encompassing Seed and Pre-Series A investments.
The round was led by Peak XV Partners, with participation from Advantedge VC, DeVC, and several angel investors. The funds will be used to enhance Ambak's technology offerings and expand operations to 35 cities, targeting USD 1 billion in loan disbursements by FY26.
Founded in January 2024 by a team of executives from Policybazaar, Paisabazaar, Freecharge, and CarDekho, Ambak aims to address inefficiencies in India's complex home loan sector. The platform simplifies the loan process through a transparent, three-step method that leverages Digital Public Infrastructure (DPI) and advanced bank rule engines.
"For a majority of Indians, buying a home is the biggest financial decision they will ever make, but access and affordability continue to be a significant hurdle. Despite 160+ lenders serving all types of customers and properties, customers find it hard to find the right lender and handle the process. Ambak's mission is to distribute USD 20 billion in home finance annually in the next five years, while leading the charge to provide transparency and predictability to the home-buying experience," said Raghuveer Malik, CEO of Ambak.
Ambak's marketplace integrates with over 50 lenders and supports more than 15,000 customers and 3,000 intermediaries, including builders and brokers. The platform's automated credit processes have streamlined home loan procurement, creating a seamless experience for users.
"We felt that the distribution of the secured retail lending space, in which home loans is the largest component, was riddled with lack of innovation despite lenders having made monumental upgrades in the last 5 years," said Rameshwar Gupta, CTO of Ambak who previously served as the CTO of Freecharge (By Axis Bank).
The startup has also signed an exclusive partnership with the Delhi Development Authority (DDA) to serve over 35,000 customers in the next 12 months.
"Mortgages represent the largest market for credit in India. The founding team at Ambak come with strong relevant experience and we are impressed with their early execution. We believe they can leverage technology effectively to solve for various needs of borrowers, intermediaries and banks in the mortgage market," added Ashish Agrawal, Managing Director, Peak XV said.
With the newly secured funding, Ambak aims to strengthen its foothold in the fintech space, targeting 100,000 customers annually while continuing to innovate in the home loan segment.
