Bharat Housing Network (BHN), a secured credit network, has raised $5 million, around Rs 47 crore, through green bonds from Symbiotics as it looks to expand financing for clean energy, electric mobility and sustainable businesses in India.
The bond is part of a $75 million green basket bond programme structured by Symbiotics in partnership with British International Investment (BII).
The latest fundraise adds to BHN’s previous financing activity. The company had earlier raised Rs 125 crore, or $14.5 million, in a Series A round led by NABVENTURES.
Funds To Flow Through Singularity Creditworld
The fresh capital will be deployed through BHN’s group non-banking financial company, Singularity Creditworld. The funds are earmarked for financing green assets across India.
BHN plans to direct the capital towards rooftop solar projects, electric mobility and clean-tech micro, small and medium enterprises (MSMEs).
The company’s focus on these segments places clean asset financing at the centre of its latest capital deployment strategy, with funding aimed at both sustainable businesses and borrowers.
BHN’s Existing Green Financing Footprint
BHN said its network has enabled nearly Rs 2,000 crore in credit for more than 40,000 low and middle-income borrowers.
Its financing activity has also extended into renewable energy and electric mobility. The network has supported 7,162 kilowatts (KW) of rooftop solar capacity and financed more than 800 electric vehicles.
According to BHN, the assets financed through its network have the potential to save around 1,01,500 tonnes of carbon dioxide (CO2) emissions.
The latest green bond funding is expected to build on this existing financing activity as BHN expands its focus on green assets.
Founded By Lalit Menghani, Madhusudan Sharma and Prasad Ajinkya
BHN was founded by Lalit Menghani, Madhusudan Sharma and Prasad Ajinkya and is part of the Homeville Group.
The company provides technology and infrastructure for capital deployment across areas including mortgages, clean energy, mobility and gold loans.
Its investor base includes NABVENTURES, 100Unicorns, Varanium, Riverwalk and LC Nueva.
BHN Eyes Up To $25 Mn In Green Bond Issuances
BHN is also planning to raise up to $25 million through green bond issuances by the end of the next financial year.
The proposed capital will be directed towards expanding green asset financing and supporting sustainable businesses and retail borrowers across India.
With the $5 million bond from Symbiotics forming part of the wider $75 million green basket bond programme, BHN is now looking to further scale its financing activity across India’s clean energy and sustainable credit segments.
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