Fintech startup Ambak has secured $7 million in funding through a combination of Seed and Pre-Series A rounds. Peak XV’s Surge led the seed round, with Peak XV Partners doubling down in the Pre-Series A round, joined by Advantedge VC, DeVC, and angel investors.
The funding will enable Ambak to expand its operations to 35 cities and serve over 100,000 customers, with a goal of crossing $1 billion in disbursements by FY26, the company announced in a press release.
Ambak simplifies the home loan process through a transparent, three-step method for selecting the right financier, leveraging Digital Public Infrastructure (DPI) and bank rule engines. The startup uses technology and integrations with DPI services to streamline the process for both customers and lending partners, offering a straightforward, assisted approach to obtaining home loans.
In its first 12 months, Ambak has built a marketplace that integrates with over 50 lenders, expanded distribution across six states, and automated credit processes to serve more than 15,000 customers and 3,000 intermediaries, including builders and brokers.
“Despite having 160+ lenders catering to all types of customers and properties, the process of finding the right lender remains complex for customers. Ambak’s mission is to facilitate $20 billion in home finance annually over the next five years while providing transparency and predictability to the home-buying experience,” said Raghuveer Malik, CEO of Ambak.
Ambak has also signed an industry-first official partnership with the Delhi Development Authority (DDA) to serve over 35,000 customers in the next 12 months. The company attributes its rapid growth to the support of existing investors, with Peak XV leading an additional infusion of $3.7 million in January 2025.
Vishal Gawai
Verified JournalistVishal Gawai is the founder of TheIndiaBizz, a media and information platform in India that offers in-depth coverage of the country's startup ecosystem.
