Weaver raises $170 million to expand AI-led affordable housing finance

Weaver Services secures $170 million from Lightspeed, Premji Invest, and Gaja Capital to drive asset acquisitions, tech innovation, and housing finance access in tier-2 and tier-3 cities

Weaver Services, a technology-led housing finance platform focused on the affordable housing segment, said Tuesday it has raised $170 million in a funding round led by Lightspeed and Premji Invest, subject to regulatory approvals. Gaja Capital also participated in the round.

 

The funding marks a significant step in Weaver’s plan to modernise affordable housing finance through AI-driven underwriting and digital lending infrastructure, particularly for self-employed borrowers underserved by traditional banks.

 

Weaver acquired Capital India Housing Finance as an anchor asset for the platform. It is likely to acquire another asset for initial scale and is currently evaluating a few assets for this purpose. The investment will accelerate Weaver's asset acquisition, fund technology development, and expand reach across Tier-II and Tier-III cities where the affordable housing gap is most acute.

 

 

The team intends to combine strong market expertise in affordable housing with proprietary tech-driven underwriting models that leverage alternative data to assess creditworthiness beyond traditional parameters, enabling faster approvals and more inclusive lending.

 

“We aim to make housing finance more accessible to the people of India by leveraging technology and placing customers at the centre of our focus thereby bringing in a new paradigm in the space,” said Satrajit Bhattacharya, founder and vice chairman of Weaver Services.

 

“There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity,” said Anil Kothuri, MD and CEO of Weaver Services.

 

The investment marks a significant commitment by Lightspeed and Premji Invest, both of whom have been investing in India for two decades. Lightspeed, with over $30 billion in AUM (assets under management) sees Weaver as an impactful force that could potentially reshape India's housing finance market across Tier I, II and III cities.

 

“We believe that India’s housing finance market remains under-penetrated and we see it as a tremendous opportunity,” said Anuvrat Jain, principal, growth investments, Lightspeed.

 

“Weaver’s combination of deep domain expertise, AI-driven capabilities, and a tech-first approach that positions them to democratize home ownership for millions of underserved Indians.”

 

Saravanan Nattanmai, partner, Premji Invest said the investment firm sees a significant opportunity to leverage technology to transform the affordable housing finance sector in India.

 

“This investment reflects our commitment to backing differentiated and innovative platforms that use technology to drive meaningful, long-term impact in financial services,” said Nattanmai.

 

Gopal Jain, managing partner, Gaja Capital said Weaver’s sharp focus on the self-employed segment, combined with disciplined execution, positions them well to emerge as a leader in the next phase of inclusive growth in financial services.