Weaver Services Announces Major Fundraise for Housing Finance Expansion

Weaver Services, a prominent housing finance platform, has secured a substantial fundraise of Rs 1,450 crore (approximately $156 million). This funding will primarily facilitate the acquisition of a 75.01% controlling interest in Centrum Housing Finance (CHFL), which is the housing finance division of Centrum Capital, pending all necessary regulatory and shareholder approvals.

Significant Investments and Stakeholders

Premji Invest, an initial supporter, co-led the recent fundraising round which raised Rs 950 crore (over $100 million) alongside Lightspeed Venture Partners, marking their inaugural foray into this sector. Additionally, Gaja Capital and a consortium of experienced financial services professionals were also involved in this funding round. This follows a previous funding of $170 million led by Premji Invest and Lightspeed, with Gaja Capital’s involvement, aimed at bolstering acquisitions, technological advancements, and expansion into tier II and tier III markets.

Acquisition of Remaining Stake in CHFL

Weaver has finalised agreements with Morgan Stanley to acquire its remaining 24.99% interest in CHFL, awaiting the necessary approvals. Upon completion, Weaver will establish itself as the sole institutional owner of CHFL.

Combining Forces for Enhanced Offerings

CHFL will merge with People Home Finance, which Weaver acquired in August 2025, resulting in a new entity boasting assets under management exceeding Rs 2,000 crore and a network of 140 branches across India. The two organisations are slated to be unified into a singular institution.

Diverse Loan Offerings and Focus on Women

The merged entity will provide a variety of financial products, including home loans, self-construction loans, home improvement loans, and loans against property, primarily concentrating on expanding credit access for women.

About Weaver Services

Established in April 2024 by Satrajit Siva Bhattacharya and Anil Kothuri, Weaver Services is a fintech-focused housing finance firm located in Mumbai. It aims to deliver affordable home loan solutions to underserved groups, especially self-employed individuals residing in tier II and tier III cities.