Varashakti Housing Finance Secures Rs 35 Crore Series A Funding for Rural Housing Expansion
Varashakti Housing Finance, a company dedicated to providing rural housing finance solutions, has successfully raised Rs 35 crore in Series A funding from Incofin India Progress Fund. This significant investment will serve as a catalyst for the company’s ambitious expansion plans, according to a top official’s announcement on Tuesday.With a sharp focus on the rural housing finance market, Varashakti Housing Finance is committed to empowering individuals with access to affordable loans for asset creation. To date, the company has positively impacted the lives of over 4,200 people through its services.
Headquartered in Chennai, Varashakti Housing Finance has consistently provided a comprehensive range of financial products, including home loans, home improvement loans, and loans against property, to meet the diverse needs of its customers. As of June 2023, the company’s reported assets stand at an impressive Rs 119 crore.
The latest infusion of funds from Incofin India Progress Fund will serve as a vital resource to propel Varashakti Housing Finance’s expansion initiatives. With a stronger financial footing, the company can expand its reach to underserved rural areas, fulfilling the dream of countless individuals to own a home of their own.
The rural housing finance market in India presents immense untapped potential, and Varashakti Housing Finance has positioned itself as a reliable player in this segment. By catering to asset creation loans, the company aims to uplift rural households and provide them with the financial means to construct or improve their homes.
Through its proactive approach to providing financial solutions, Varashakti Housing Finance has garnered a reputation for its customer-centric approach. The company’s commitment to empowering individuals with financial independence aligns with the broader vision of improving rural livelihoods.
The capital infusion from Incofin India Progress Fund comes at an opportune time, allowing Varashakti Housing Finance to scale its operations and establish a wider network of service delivery. This strategic expansion will enable the company to reach more customers and provide them with the financial tools to achieve their housing aspirations.
Varashakti Housing Finance’s emphasis on rural housing finance contributes to the government’s vision of “Housing for All” and aligns with the broader objective of inclusive growth. By bridging the financial gap and offering accessible credit, the company plays a vital role in fostering sustainable rural development.
The positive impact created by Varashakti Housing Finance’s services can be measured in the thousands of families who have realized their dream of owning a home. As the company continues to grow and extend its services to more underserved regions, the number of beneficiaries is expected to multiply.
By offering a diverse portfolio of financial products, including home improvement loans and loans against property, Varashakti Housing Finance addresses the unique needs of its diverse customer base. This flexibility in its offerings reflects the company’s adaptability to changing market dynamics and customer preferences.
The successful Series A funding marks a significant milestone in Varashakti Housing Finance’s journey and validates the company’s unwavering commitment to social impact. It sets the stage for a promising future, where the company’s financial solutions can touch the lives of many more individuals across rural India.
News Mania Desk/ Agnibeena Ghosh , 26 July 2023
