Ambak, India’s fastest-growing fintech marketplace for home loans   announces $7 Million funding led by Peak XV Partners

• Founders are ex-leadership from Policybazaar, Paisabazaar, CarDekho, Freecharge by Axis Bank, HDFC Life and ZestMoney 
• In just 12 months, Ambak has served 15,000+ home buyers and signed an official partnership with Delhi Development Authority (DDA) to serve 35,000+ customers

National, 28 January, 2025: Ambak, a technology-driven marketplace streamlining the home loan process, announces $7 million in funding through a combination of Seed and Pre-Series A funding. Leading investors include Peak XV’s Surge in the seed round, with Peak XV Partners doubling down for Pre-Series A, Advantedge VC, DeVC, and angel investors, who have significantly increased their stake in the company.

The founders, leaders from PB Fintech, Freecharge, CarDekho Group and ZestMoney who have built scaled platforms in insurance, car loans and unsecured lending, launched Ambak in January 2024, to improve customer and home seller experience in a fragmented, opaque and large ($160 Bn / annum) home finance market.  Despite favourable government policies like the Pradhan Mantri Awas Yojana (PMAY), the home loan process in India remains cumbersome, often confusing customers with over 150 financiers offering loans. Ambak simplifies this by providing a transparent, three-step process for selecting the right financier, supported by Digital Public Infrastructure (DPI) and bank rule engines.

Within the first 12 months, Ambak has built their marketplace integrating with 50+ lenders, expanded distribution in 6 states and automated credit processes to serve the needs of 15,000+ customers and 3,000+ intermediaries including builders and brokers. They also signed an industry-first official partnership with Delhi Development Authority (DDA) to serve 35,000+ customers over the next 12 months. This growth prompted their existing investors with Peak XV as the lead to infuse a further $3.7 Million in January 2025 to co-create new products, build AI tools and expand distribution to all major hubs in India.

“For a majority of Indians, buying a home is the biggest financial decision they will ever make, but access and affordability continue to be a significant hurdle. Despite 160+ lenders serving all types of customers & properties, customers find it hard to find the right lender and handle the process. Ambak’s mission is to distribute $20 billion in home finance annually in the next five years, while leading the charge to provide transparency and predictability to the home-buying experience,” shared Raghuveer Malik, CEO of Ambak.

Ashish Agrawal, Managing Director, Peak XV shared, “Mortgages represent the largest market for credit in India. The founding team at Ambak come with strong relevant experience and we are impressed with their early execution. We believe they can leverage technology effectively to solve for various needs of borrowers, intermediaries and banks in the mortgage market.”

Ambak, which has quietly been building its presence and launched its app 12 months ago, has been making waves in the industry. The startup uses technology and integrations with Digital Public Infrastructure (DPI) services to serve both the customer & their lending partners offering a simple and assisted process for getting a home loan.

“We felt that the distribution of the secured retail lending space, in which home loans is the largest component, was riddled with lack of innovation despite lenders having made monumental upgrades in the last 5 years” said Rameshwar Gupta, CTO of Ambak who previously served as the CTO of Freecharge (By Axis Bank). 

Ambak’s Expansion and Innovation Goals

The newly raised funds will enable Ambak to expand its operations across 35 cities and serve 100,000+ customers, crossing $1 Billion in disbursements in FY26. To ensure it stays customer-obsessed, Ambak is strengthening its Loan Comparison tools, developing Vernacular AI bots for better customer outreach, and improving its AI/ML-based loan processing engine. The company is also co-creating products with financiers to expand options and deepen financial penetration across the country.

Leveraging Technology to Drive Change

Ambak’s platform integrates real-time data from lenders and employs AI-driven processes to reduce turnaround times and minimize customer confusion. By streamlining operations, Ambak aims to drive the adoption of customer-centric practices that promote transparency and affordability, ensuring a significant boost to the home finance sector by FY32.