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

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.  

Harsh Shah, Equity Officer at Oikocredit, highlighted the significance of the investment, stating, “Access to quality housing has a multiplier impact in the lives of people, particularly children and women in low-income families, also helping them in adapting to rapid climate change. Our investment in Altum Credo aligns with Oikocredit's community-focused approach for access to affordable housing financing.” 

For more details on this impactful collaboration, read the press release here.