Flashback – The year 2010. A brave young company rode into the wild & exciting arena of Housing Finance. The big boys were all there, and it was a little scary for the rookie. Bessemer Venture Partners gave us the firepower in our Series A funding. New ammo and a lot of grit helped us kick up a storm.
Present day – Meet the 7-year-old HomeFirst Finance Company. 15,000+ happy customers. 1000+ Cr AUM. Business growth at 50%+ CAGR since inception. With a strong presence in the affordable housing finance segment in the country, we certainly have found our “sweet spot”!
The PE Firm, True North has taken a majority stake in Home First Finance Company India Pvt. Ltd (HFFC) for about $100 million (Rs 667 crore). True North has a great reputation for investing in mid-sized entities and nurturing them into industry leaders. Our unique culture and way of doing business in a very transparent and socially responsible manner resonated well with them.
We would be using the money to expand to new regions and reach out to more customers in Tier II & Tier III cities. We want to continue our bias towards using technology to create innovative products and processes for the housing finance customers in India.