Team Startupcity

• Home loan fintech Ambak raises $7M in Seed and Pre-Series A funding led by Peak XV Partners to expand into 35 cities and target $1B in loan disbursements by FY2026.
• Founded in Jan 2024 by fintech veterans, Ambak simplifies home loans using a tech-driven, 3-step process powered by Digital Public Infrastructure and a 50+ lender network.
• Already serving 15,000+ customers, Ambak aims to serve 100,000 annually, with exclusive partnerships like the Delhi Development Authority to scale impact in India's mortgage market.

Ambak, a Bengaluru fintech company that specializes in home loan offerings, has raised a significant $7 million in a Seed and Pre Series A round of funding led by Peak XV Partners, with contribution from Advantedge VC, DeVC, and various angel investors and advisers. Since its inception in January 2024 by Policybazaar, Paisabazaar, Freecharge, and CarDekho veterans, the startup has gone on to simplify India's notoriously cumbersome home loan market. The new capital will be invested in bolstering its tech stack and scaling up to 35 cities, with a target of achieving USD 1 billion in loan disbursements by FY 2026.

Ambak's methodology is unique for its clear, three-step loan process facilitation, driven by Digital Public Infrastructure (DPI) and sophisticated bank-rule engine. This allows borrowers to benefit from transparent EMI calculations, real-time application tracking, and simplifies credit checking. By connecting over 50 lenders, Ambak is currently servicing over 15,000 customers and interacting with around 3,000 intermediaries, such as builders and brokers. The company has also entered into a sole agreement with the Delhi Development Authority, which may reach more than 35,000 customers within a year.

Chief Executive Officer Raghuveer Malik reflects on Ambak's purpose, stating that while there are more than 160 lenders serving different types of properties in India, borrowers need help finding the right one and navigating complex processes. He sees Ambak changing this by fairly dispersing USD 20 billion worth of home finance every year in five years. Co founder and CTO Rameshwar Gupta, who comes from Freecharge, reiterates that secured retail lending is still under innovated, even though there has been significant progress from regular lenders, and Ambak is looking to bridge the gap through automation and user-friendly interfaces.

Peak XV's MD, Ashish Agrawal, expressed faith in the founding team to make the most of technology to meet borrower, intermediary, and bank requirements in the mortgage industry. In the future, Ambak is going to further intensify its presence in India with the aim of serving 100,000 customers a year while ongoingly streamlining its core platform.

Ambak's tale is one of a rising wave of fintech innovation in India's mortgage market a technology-led, disciplined approach that aims for efficiency, transparency, and scale in a space with enormous potential for disruption.