Ambak, a technology-driven marketplace streamlining the home loan process, has raised $7 million in seed and pre-Series A funding round. Peak XV’s Surge led 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 newly raised funds will be used to expand its operations across 35 cities and serve 100,000+ customers, crossing $1 billion in disbursements in FY26.
“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,” said Raghuveer Malik, CEO of Ambak.
Ashish Agrawal, Managing Director, Peak XV said, “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.”
“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).
Founded in January 2024 by Raghuveer Malik, Rameshwar Gupta and Rashi Garg, Ambak simplifies the home loan process through a transparent, three-step method for selecting the right financier, leveraging Digital Public Infrastructure (DPI) and bank rule engines. The startup uses technology and integrations with DPI services to streamline the process for both customers and lending partners, offering a straightforward, assisted approach to obtaining home loans.
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.
