HomeCapital, which provides home down-payment assistance to first time buyers, has announced that it has secured an undisclosed amount of funding round from Venture Catalysts.
The angel investors from Venture Catalysts, who participated in this round include Anuj Golecha, Gaurav Gandhi, Ram Joukani, Gaurav Singhvi, Vishal Jhunjhunwaala, Anudeep Jhunjhunwaala, Brijesh Thakkar, Revathi Roy, Jagidsh Gothi, Dipan Dalal, and others.
Commenting on the investment, Lalit Menghani, Founder – HomeCapital, said,
The biggest challenge that first time home buyers face in the Indian housing market is the lack of savings for home down payment. We wanted to solve this massive problem by providing users with interest free down payment assistance to meet home down payment requirements.
He further said that the funding amount raised in this round will help the company to develop brand, scale up current infrastructure and enhance product besides entering into strategic tie-ups with financial partners. It aims to emerge as every home buyer’s preferred destination for meeting their down payment needs.
Founded by Lalit Menghani, HomeCapital creates home-ownership opportunities for first time homebuyers through down payment assistance to accelerate their home buying at 0% interest rate through innovative financial structuring.
The company has defined a completely new and strategic market segment for first time home buyers. It currently has a huge market opportunity, catering to 75 percent of the supply in residential real estate across Delhi-NCR, MMR, Bangalore, Pune, and Chennai.