Weaver Secures $170 Million to Boost AI-Driven Affordable Housing Finance
Weaver Services, a tech-focused housing finance platform targeting the affordable housing sector, has raised $170 million in a funding round led by Lightspeed and Premji Invest, with participation from Gaja Capital. The investment is pending regulatory approvals.
This capital injection supports Weaver’s strategy to expand asset acquisitions, enhance technology innovation, and increase access to housing finance in Tier-II and Tier-III cities. These markets face the greatest shortfall in affordable housing finance, especially among self-employed borrowers who often lack access to traditional banking products.
Strategic Asset Acquisition and Technology Development
As part of its growth plan, Weaver acquired Capital India Housing Finance as a foundational asset. Additional acquisitions are being evaluated to build initial scale. The funding will accelerate these efforts and fuel development of AI-driven underwriting models that incorporate alternative data sources.
By moving beyond conventional credit assessment criteria, Weaver’s technology enables faster loan approvals and broader inclusion. This approach targets underserved segments, particularly the informal and self-employed sectors, enhancing both customer selection and risk management.
Leadership Perspectives
Satrajit Bhattacharya, founder and vice chairman of Weaver Services, emphasized the company’s focus on customer-centric technology to make housing finance more accessible across India.
Anil Kothuri, MD and CEO, highlighted the potential for technology to unlock home loan opportunities for informal sector borrowers while improving operational efficiency.
Investor Confidence and Market Opportunity
- Lightspeed, managing over $30 billion in assets, views Weaver as a significant player capable of reshaping India’s housing finance landscape across multiple city tiers. Anuvrat Jain, principal of growth investments, noted the under-penetration of the housing finance market and Weaver’s potential to democratize home ownership for millions.
- Premji Invest sees this as a chance to back innovative platforms leveraging technology for long-term impact in financial services. Partner Saravanan Nattanmai emphasized their commitment to supporting differentiated businesses in affordable housing finance.
- Gaja Capital values Weaver’s disciplined execution and focus on the self-employed segment, positioning the company to lead inclusive growth in financial services, according to managing partner Gopal Jain.
This funding round positions Weaver to expand its footprint in underserved markets, combining deep domain expertise with AI to address gaps in affordable housing finance.
For finance professionals interested in the intersection of AI and lending, exploring AI applications in credit underwriting can offer valuable insights. Relevant AI training resources are available at Complete AI Training.
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