Wonder Home Fin secures Rs 500 crore investment from Growtheum Capital

Jaipur, Jan 20 (PTI) Wonder Home Finance on Tuesday said it has secured an investment of Rs 500 crore from Growtheum Capital Partners (GCP) to strengthen the capital base and support the expansion of its affordable housing finance business across India.

The company said the investment will be used to expand its branch network in new and existing geographies, support growth in the loan book and further strengthen systems, risk management and governance frameworks.

Ashok Patni, Chairman of the RK Group, told reporters here that the partnership would help the company scale its operations while maintaining a responsible lending approach.

"We are delighted to welcome Growtheum Capital Partners as our strategic partner. Their understanding of the financial services sector and alignment with our long-term vision will enable us to accelerate growth, deepen its geographic presence and continue serving underserved Indian homebuyers," he said.

Jaipur-headquartered Wonder Home Finance operates 136 branches across 12 states and primarily caters to borrowers with informal and semi-formal income profiles in urban and semi-urban markets.

Founded in 2017, the company said it has recorded a compound annual growth rate of around 70 per cent over the last five years, with assets under management crossing Rs 3,000 crore. PTI AG BAL BAL