Bengaluru-based fintech startup Ambak has raised ₹69 crore (~$8.2 million) in the first tranche of its Series A round led by Peak XV Partners (formerly Sequoia India & SEA) and Z47 (formerly Matrix Partners India), with participation from Powerhouse Ventures, Vivid Ventures and several marquee angels.
Founded in 2023 by Satyam Shukla, Manish Kumar and Rohit Sen, Ambak is building a full-stack digital home loan platform that promises to cut approval time from 25-30 days to under 7 days using AI-driven underwriting, instant property valuation and paperless processing. The startup claims it can disburse loans up to ₹10 crore in record time while keeping defaults below industry average.
This ₹69 Cr tranche is part of a larger $25-30 million Series A round that is still ongoing, multiple sources told Entrackr. The round values Ambak at roughly ₹650-700 crore pre-money, making it one of the fastest Indian fintechs to hit this valuation milestone in the lending space post the 2023-24 funding winter.
Peak XV and Z47 – two of the most aggressive investors in Indian fintech – have rarely co-led a deal together in the last three years. Their joint bet signals strong belief that the $100+ billion Indian home loan market is ready for serious disruption.
“Home loans in India are still stuck in the 1990s – endless paperwork, multiple site visits, and 4-week waits. We’re fixing that with tech that actually works,” says co-founder Satyam Shukla.
Ambak has already disbursed over ₹1,200 crore in loans in just 18 months of operations and claims a 90%+ customer NPS. The platform has tied up with 15+ banks and NBFCs including HDFC, ICICI, Axis, Bajaj Housing Finance and Poonawalla for co-lending.
The fresh capital will be used to:
- Triple the engineering and underwriting team
- Expand from 8 cities to 25+ cities in 18 months
- Launch its proprietary credit engine “Ambak One”
- Build direct-to-consumer acquisition channels
The startup is also reportedly in advanced talks with two large private banks for a strategic partnership that could add another ₹50-70 Cr to the round.
With RBI tightening norms on unsecured lending, investors are rushing back to secured products like home loans – making Ambak perfectly timed. The company says its tech stack has already reduced processing costs by 60% compared to traditional players.
This is Peak XV’s third big fintech bet in six months (after Jupiter and KreditBee extension) and Z47’s second home-loan play after Cashe.
Ambak now joins an elite club of fintechs – NeoGrowth, Jiraaf, and Grip Invest – that have managed to raise large rounds in 2025 despite the ongoing global slowdown.
The home loan market in India is growing at 18-20% CAGR and is expected to cross $300 billion by 2030. If Ambak executes well, this could be the beginning of India’s own “Rocket Mortgage” moment.
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Last Updated on Friday, December 5, 2025 10:17 am by Startup Chronicle Team
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