Bharat Housing Network raises $5M green bond from Symbiotics
Bharat Housing Network (BHN) has raised $5 million (around Rs 47 crore) in green bonds from Symbiotics.
The issuance is part of a $75 million green basket bond programme structured by Symbiotics with British International Investment (BII).
BHN is a secured credit network that provides technology and infrastructure for capital deployment across mortgages, clean energy, mobility, and gold loans. The company is part of the Homeville Group and was founded by Lalit Menghani, Madhusudan Sharma, and Prasad Ajinkya.
Its investors include NABVENTURES, 100Unicorns, Varanium, Riverwalk, and LC Nueva. BHN had previously raised Rs 125 crore ($14.5 million) in Series A funding led by NABVENTURES.
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The capital will be deployed through BHN's group NBFC, Singularity Creditworld, to finance green assets in India. The funds will support rooftop solar financing, electric mobility financing, and credit for clean-tech MSMEs.
BHN claims its network has enabled nearly Rs 2,000 crore of credit to more than 40,000 low- and middle-income borrowers. It has financed 7,162 KW of rooftop solar capacity and more than 800 electric vehicles, with the financed assets having a potential to save around 1,01,500 tonnes of CO2 emissions.
The company is targeting up to $25 million in green bond issuances by the end of the next financial year. The proposed capital will be used to expand green asset financing and provide funding to sustainable businesses and retail borrowers across India.
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