Founded in 2020 by Atul Monga and Kalyan Josyula, BASIC home loan is India’s first Neo-Housing Finance company (Neo-HFC) working on digitizing home loans and increasing affordable loan penetration for middle and low-income households in tier 2 and tier 3 cities. BASIC aims to increase penetration of affordable home loans (AHLs) as the affordable housing market has vast potential but the traditional lenders lack the willingness to address the issue. BASIC wants to ensure hassle-free loans with its automated platform.
Rohit Sood, Partner at Bertelsmann India Investments, said:
“BASIC Home Loan is revolutionizing the home loan experience, especially for the underserved, low-income borrowers from tier 2-3 cities. With its superior tech stack, it has created a simple, unique, and transparent solution in the industry and has become one of the leading channel partners for lenders in less than 3 years. We see strong tailwinds in the sector due to favorable government policies, rising nuclearization & improving affordability. We’re proud to join Atul and Kalyan in this journey.”