Oikocredit Co-Leads a $39 Million Investment in Altum Credo to Promote Affordable Housing Finance

Oikocredit, alongside Z3 Partners and with the participation of British International Investment, has led a $39 million equity investment in Altum Credo to bolster affordable housing finance in India. Altum Credo, a Pune-based affordable housing finance company, provides long-term retail home loans to low-income group customers. These are often first-time homeowners who have traditionally struggled to access credit.  

Founded in 2017, Altum Credo offers digital-led underwriting across six states — Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Rajasthan — and has a customer base of over 11,000.  The investment from Oikocredit and others will enable Altum Credo to achieve its growth targets by enhancing its distribution network and expanding its operational footprint.