Exclusive: Ambak starts Series A round with Rs 69 Cr funding led by Peak XV and Z47

Home loan startup Ambak has kicked off its Series round with Rs 69 crore (approximately $7.84 million) co-led by existing backers Peak XV Partners and Z47 (formerly Matrix Partners) with the participation of DeVC and others.

This comes after the company announced $7 million in funding in January 2025 through a combination of Seed and Pre-Series A rounds led by Peak XV Partners.

According to its regulatory filing with the RoC, Ambak’s board has issued 3,111 Series A CCPS and 10 equity shares at an issuance price of Rs 2,20,405.6 per share to raise the above-mentioned amount.

Peak XV Partners and Z47 co-led the tranche with Rs 26.62 crore or $3 million each followed by DeVC India and Advantage Technology Fund who invested Rs 6.65 crore and Rs 6.28 crore respectively. Calabasas Ventures, AngelList and Sushmita Mathur, Ojaswa Sharma, Anil Kumar Goteti and others contributed the remaining amount.

According to Entrackr’s analysis, the company’s valuation has surged by over 76% to Rs 450 crore ($51 million) post-money, compared with its Rs 255 crore valuation in the previous round.

Founded in 2023, Ambak streamlines the home loan process through a transparent three-step system that matches customers with the right financiers using Digital Public Infrastructure (DPI) and bank rule engines. Its tech-driven, assisted model simplifies workflows for both borrowers and lending partners.

Following the latest infusion, Peak XV remains the largest external shareholder with a 14.9% stake, followed by Surge Ventures and Z47 at 13.95% and 6.25% respectively. The co-founders Raghuveer Malik, Rameshwar Gupta and Rashi Garg collectively hold 46.23% of the company, according to TheKredible.

In its first year of operations, Ambak reported Rs 1.03 crore in operating revenue for the fiscal year ended March 2024 and a loss of Rs 2.11 crore. The company has not yet disclosed its FY25 figures.

Last year, several other home finance startups also raised funding, including Easy Home Finance, which secured $35 million led by Ranjan Pai’s family office and Claypond Capital, and Basic Home Loan, which raised $10.6 million, among others.