Fintech Startup Ambak Nets $7 Mn To Fuel Its Tech Offerings

Fintech Startup Ambak Nets $7 Mn To Fuel Its Tech Offerings

SUMMARY

The seed round was led by Peak XV’s Surge, with Peak XV Partners doubling down for the Pre-Series A,  along with participation from Advantage VC, DeVC and angel investors

The Gurugram-based startup plans to deploy the fresh proceeds to expand operations to 35 cities, aiming to serve more than 100,000 customers and exceed $1 Bn in loan disbursement by FY26

Launched in 2024, Ambak offers a marketplace for home loans against property, assisting customers through the process

Fintech marketplace for home finance Ambak has raised $7 Mn in a funding round combining seed and Pre-Series A infusions.

The seed round was led by Peak XV’s Surge, with Peak XV Partners doubling down for the Pre-Series A,  along with participation from Advantage VC, DeVC and angel investors.

The Gurugram-based startup plans to deploy the fresh proceeds to expand operations to 35 cities, aiming to serve more than 100,000 customers and exceed $1 Bn in loan disbursement by FY26.The company also invests in vernacular AI bots to enhance customer support and improve its AI/ML-driven loan comparison tools.

Despite 160+ lenders serving all types of customers & properties, customers find it hard to find the right lender and handle the process. Ambak’s mission is to distribute $20 Bn in home finance annually in the next five years,”said Ambak’s chief executive officer Raghuveer Malik

Launched in 2023 by Malik, Pranav Khattar, Rameshwar Gupta, Ashish Lohia and Rashi Garg, Ambak offers a marketplace for home loans against property, assisting customers through the process. It has more than 50 lenders and serves more than 15,000 customers and 3,000 intermediaries.

The funding comes at a time when India’s fintech sector is experiencing growing interest from the investors, highlighting its potential for significant growth and innovation. 

For instance, fintech startup Juspay is currently in talks to raise $150 Mn (around INR 1,295 Cr) in a funding round led by Kedaara Capital, with participation from WestBridge and SoftBank. Similarly, Easebuzz is also in discussion to raise funding in a new funding round. 

According to a report by Inc42, funding for the homegrown fintech ventures dropped by 19% in 2024, falling to $2.5 Bn, compared to $3.1 Bn raised in the same period last year. 

Meanwhile,another report suggests that the Indian fintech market is expected to grow at over $2.1 Tn by the year 2030.

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