A consortium of private equity firms—Gaja Capital, Lightspeed, and Premji Invest —has come together to launch People’s Home Finance, a new affordable housing finance platform targeting India’s large self-employed segment, which formal lenders have traditionally underserved.

The platform has raised $170 million (around ₹1,400 crore) in equity capital in its first round and will follow a “buy-and-build” strategy, acquiring existing housing finance companies to achieve scale from inception. The firm is integrating AI-led underwriting and data analytics to underwrite non-salaried borrowers who lack formal income documentation.

"India’s total home loan assets under management (AUM) are estimated at around ₹40 lakh crore, yet self-employed borrowers account for less than 3% of this market. The

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