Bharat Housing Network secures $5M from Symbiotics

Bharat Housing Network (BHN), a co-lending platform specializing in affordable housing, has successfully secured $5 million in green bonds from Symbiotics. This funding is part of a larger $75-million green bond program orchestrated by Symbiotics in collaboration with British International Investment (BII), the UK's development finance institution and impact investor.

The objective of this green bond program is to promote the use of renewable energy solutions across Asia and Africa. The capital raised will be utilized to finance sustainable green assets in India through BHN's associated NBFC, Singularity Creditworld. These funds will be allocated towards solar rooftop financing, electric mobility financing, and credit to new-age clean tech Micro, Small, and Medium Enterprises (MSMEs).

As of now, BHN has facilitated approximately Rs 2,000 crore of credit for more than 40,000 low- and middle-income borrowers. The network has also installed 7,162 KW of solar rooftop energy capacity and provided financing for the acquisition of over 800 electric vehicles, resulting in an estimated CO2 emissions reduction of 1,01,500 tonnes.

Looking ahead, BHN aims to issue up to $25 million in green bonds by the end of the next financial year, with this objective being to bolster the growth of green asset financing and augment the availability of capital for sustainable businesses and retail borrowers. BHN, which is a part of the Homeville Group, offers technology and infrastructure to facilitate capital deployment across mortgages, clean energy, mobility, and gold loans.

The company is supported by investors such as NABVENTURES, 100Unicorns, Varanium, Riverwalk, and LC Nueva. Keyur Vinchhi, SVP- Strategy and Business Development at Bharat Housing Network, stated that this funding comes at a crucial time when India's energy transition is rapidly advancing beyond metropolitan areas into Tier-2 and Tier-3 cities.

BHN plans to leverage its well-established co-lending platform and secured lending capabilities to deploy these funds across high-impact green segments.