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Funding · Financial Services

Weaver Services raises Rs 1,450 Cr to acquire Centrum Housing Finance

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Date
Company
Weaver Services
What it does
Fintech housing finance company
Kind
Funding
Amount
Rs 1,450 Cr ($156M)
Stage
Series B
Based in
Mumbai
Founded
April 2024
Sector
Financial Services

What they do

Weaver Services is a Mumbai-based fintech that provides affordable home loans to underserved segments

What happened

The company raised Rs 1,450 Cr in a two-tranche fundraise, with the latest tranche of Rs 950 Cr led by Premji Invest and Lightspeed, to buy a controlling…

Why it matters

This acquisition merges with People Home Finance to create an entity with over Rs 2,000 Cr in assets under management

The details

  • Weaver Services completed a two-tranche fundraise totaling Rs 1,450 Cr ($156M).
  • Premji Invest and Lightspeed Venture Partners led the investment round for the fintech company.
  • Gaja Capital and a group of senior financial services professionals participated in the funding.
  • Weaver Services will use the funds to acquire a 75.01% controlling stake in Centrum Housing Finance from Centrum Capital.
  • The company has a definitive agreement to acquire the remaining 24.99% stake in Centrum Housing Finance from Morgan Stanley.
  • After these acquisitions, Weaver Services will become the sole institutional owner of Centrum Housing Finance.
  • Weaver Services plans to merge Centrum Housing Finance with People Home Finance, which it acquired in August 2025.
  • The combined entity will focus on expanding credit access specifically for women borrowers across India.

The bigger picture

  • This deal marks a significant consolidation in the Indian housing finance sector through private equity-backed players.
  • Weaver Services aims to leverage its technology platform to scale lending operations efficiently across tier II and III cities.
  • The acquisition allows Weaver Services to instantly gain a substantial asset base and branch network.

About the business

  • Weaver Services was founded in April 2024 as a Mumbai-based fintech housing finance company.
  • It targets affordable home loans for underserved segments and self-employed individuals in smaller cities.
  • The company focuses on providing loans against property and home improvement loans to its customers.
  • Weaver Services integrates technology to streamline loan processing and improve customer experience in the housing finance space.
  • The firm aims to serve customers who may not have easy access to traditional banking channels.

What happens next

  • Weaver Services will complete the acquisition of the remaining 24.99% stake in Centrum Housing Finance from Morgan Stanley.
  • The company will merge Centrum Housing Finance with People Home Finance to form a larger unified entity.

The deal

Type
funding

Investors

Founders

  • Satrajit Siva Bhattacharya, Founder
  • Anil Kothuri, Founder

About Weaver Services

Product
Home loan financing services for affordable housing through consolidated platforms and multiple finance subsidiaries
Customers
Individual borrowers and SMEs seeking affordable housing and residential financing across India
How it makes money
Non-banking finance company providing retail home loans with focus on tier II and tier III markets through acquisition strategy
What sets it apart
Acquisition and consolidation of existing housing finance entities to rapidly scale affordable housing lending

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