Fintech firm Ambak raises $7 million in seed and pre-series A round

Ambak, a fintech marketplace for home loans, has raised $7 million in funding through a combination of seed and pre-series A rounds. The company said leading investors in the latest fundraising exercise include Peak XV’s Surge in the seed round, Peak XV Partners for pre-series A, Advantedge VC, DeVC, and other angel investors.

 

The company plans to expand its operations across 35 cities and aims to cater to over 1 lakh customers in the financial year 2025-26 (FY26). It also plans to achieve the $1 billion disbursement mark during the same period.

 

Ambak stated that it is strengthening its loan comparison tools, developing vernacular artificial intelligence (AI) bots for better customer outreach, and improving its AI/ML-based loan processing engine. Additionally, the company is co-creating products with financiers to expand options and deepen financial penetration across the country. 

 

The company launched operations in January 2024.

 

The Gurugram-based firm claims to have integrated over 50 lenders on its platform, serving 15,000 customers and over 3,000 intermediaries, including builders and brokers.

 

It has partnered with the Delhi Development Authority (DDA) to serve over 35,000 customers over the next 12 months.

 

“This growth prompted Ambak’s existing investors, with Peak XV as the lead, to infuse a further $3.7 million in January 2025 to co-create new products, build AI tools, and expand distribution to all major hubs in India,” the company said in a statement.

 

The firm stated that it plans to distribute $20 billion in home finance annually within the next five years.

 

“Mortgages represent the largest market for credit in India. The founding team at Ambak comes with strong, relevant experience, and we are impressed with their early execution. We believe they can leverage technology effectively to address various needs of borrowers, intermediaries, and banks in the mortgage market,” said Ashish Agrawal, managing director, Peak XV.