Lightspeed, Premji Invest Lead USD 170 Mn Round in Housing Finance Firm Weaver Services Earlier, Weaver Services acquired Capital India Housing Finance, which served as its anchor asset.

Housing finance firm Weaver Services has raised USD 170 million led by Lightspeed and Premji Invest. Gaja Capital also participated in the latest funding round.

The fundraise follows Weaver Services' acquisition of Capital India Housing Finance, which served as its anchor asset. The company said it plans to acquire another asset for initial scale and is currently evaluating multiple opportunities. The fresh capital will be used for asset acquisition, technology development, and expansion across tier II and tier III cities, it added.

Founded by financial industry veterans Satrajit Bhattacharya and Anil Kothuri, Weaver Services aims to build a technology-driven housing finance ecosystem to serve India's underserved affordable housing segment, with a focus on self-employed borrowers. Its offerings include AI-enabled workflows for loan processing, customer onboarding, and risk management.

"We aim to make housing finance more accessible to the people of India by leveraging technology and placing customers at the centre of our focus, thereby bringing in a new paradigm in the space," said Weaver Services founder and vice chairman Bhattacharya in a press release.

Anil Kothuri, MD and CEO of Weaver Services, added, "There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity."

The latest funding comes amid rising investor interest in the housing finance sector. In December 2024, Vastu Housing secured USD 100 million from Prosus. In the same month, Easy Home Finance raised USD 35 million from Ranjan Pai's family office. In September 2024, Basic Home Loan raised USD 10.6 million in a Series B round, while in October 2024, Vridhi Home Finance secured USD 35 million from Norwest Venture Partners.