Altum Credo is a digital payment company that has secured $40 million in its series C funding round  led by Z3partners and Oikocredit. The company offers financial accessibility to first-home buyers across  rural areas of the country. The startup aims to use this fresh proceed to enhance its platform, and  product development. 

The series C funding round was led by Okiocredit with Rs 80 crore, followed by Rs 85 crore. This round  had the participation of new and existing investors including British International Investment,  Avishkaar Bharat Fund, and Amicus Capital. Entrackr reported that the board members approved a  special resolution to allot 300 equity and 1,99,99,700 CCPS at an issue price of Rs 114 each to raise $ 27 million as primary capital. The secondary transaction had 1.03,96,040 shares sold for $14 million,  out of which Avishkar Bharat Fund sold Rs 79 crore worth of shares. The shares of ABF were purchased  by PS Pai and family in secondary transactions.  

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Altum Credo provides financial access to first-home buyers across the country by offering home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5 to 20 years. The startup data intelligence site,  TheKredible reported Altum Credo to have a post-valuation of around $149 million. After this round, the existing investor Avishkkar holds the largest external stake in this startup with 15.92 percent. The  startup reported that its operation revenue increased to 102.4% reaching Rs 67.2 crore in FY23.  TheKredible reported the startup’s profit increased by 99% and reached the Rs 8.95 crore mark in FY23. 

Founded by Ganesh Rao, Vikrant Bhagwat, and Ashish Tewari, this startup claims to provide tailor made and affordable products with an option of EMI, which allows its customers to get their first home  in a sustainable way. The startup will use the funding amount to strengthen its platform and making it  more secure for its users. The startup offers a wide range of services including low interest rates on  home loans and low processing fees. The startup aimsto become a leader in the tech-driven affordable  housing finance industry. 

Conclusion: 

Altum Credo has secured $40 million in its series C round led by Oikocredit and Z3partners. The startup  aims to use this fresh proceed to enhance its platform, and product development. This round was led  by Oikocredit and had the participation of new and existing investors including British International  Investment, Avishkaar Bharat Fund, and Amicus Capital. This startup provides tailor-made and  affordable products with an option of EMI, which allows its customers to get their first home in a  sustainable way. The board members approved a special resolution to allot 300 equity and 1,99,99,700 CCPS at an issue price of Rs 114 each to raise $ 27 million as primary capital. After this round, the  existing investor Avishkkar holds the largest external stake in this startup with 15.92 percent.  TheKredible reported Altum Credo to have a post-allotment valuation of around $149 million.