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Funding · Financial Services

Bharat Housing Network raises $5 million in green bonds

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Bharat Housing Network logo
Date
Company
Bharat Housing Network
What it does
Secured lending network
Kind
Funding
Amount
$5M
Stage
Green bonds
Founded
2021
Sector
Financial Services

What they do

Bharat Housing Network runs a technology platform that helps lenders give secured loans for homes, clean energy, mobility and gold

What happened

Symbiotics put $5 million into its green bonds, part of a $75 million programme built with British International Investment

Why it matters

The money will fund rooftop solar, electric vehicles and clean-tech small businesses through its lending arm, Singularity Creditworld

The details

  • Bharat Housing Network (BHN) raised $5 million, about ₹47 crore, through green bonds.
  • Symbiotics bought the bonds.
  • They sit within a $75 million green basket bond set up with British International Investment.
  • The money flows through BHN's lending company, Singularity Creditworld.
  • It will finance rooftop solar, electric vehicles and clean-tech small businesses.

The bigger picture

  • BHN says it has helped deliver about ₹2,000 crore of credit to over 40,000 borrowers.
  • It has financed 7,162 kW of rooftop solar and more than 800 electric vehicles.
  • It aims for up to $25 million in green bonds by the end of next financial year.

About the business

  • It runs a co-lending platform (lenders pooling money on one home loan) for affordable housing in India.
  • Its customers are housing finance companies and other lenders that want to give home loans to lower-income buyers.
  • It supplies capital, technology and infrastructure so partner lenders can make loans faster and with less effort.
  • It has signed up 23 financial institutions and targets $500 million of loans through the platform in three years.
  • It is run by Homeville Consulting Private Limited and works across India.

What happens next

  • BHN plans up to $25 million of green bonds by the end of next financial year.

The deal

Type
green bonds

Investors

  • Symbiotics (lead) — Impact investor that structured the green basket bond.
  • NABVENTURES (existing) — Led the ₹125 crore Series A.

Founders

  • Lalit Menghani
  • Madhusudan Sharma
  • Prasad Ajinkya

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