BASIC Home Loan, a Gurugram-based startup developing a platform for automating home loans for middle and low-income households in India, has raised a $500k Seed round from Picus Capital, a Germany-based early-stage technology investment firm.
BASIC Home Loan's vision is to digitise the home loans process and increase affordable loans penetration for mid-and low-income households in India. It aims to use the 'Phygital' approach in creating a network of agents who utilize its technology in handholding consumers, from 'research' to 'final disbursement' of home loans.
Atul Monga, Co-founder and CEO, Basic Home Loan said, “During a home loan process especially affordable housing, a customer has to go through multiple touch points, which is a pain. We are working to ensure that our tech enabled agent handholds them through this process of fulfillment from 'documentation' to 'disbursement' as their single point of contact.”