Bharat Housing Network raises $5 million from Symbiotics under $75 million green bond programme with BII

Bharat Housing Network (BHN), a secured credit network backed by NABVENTURES and other investors, has raised $5 million (about Rs 47 crore) in green bonds from impact investment firm Symbiotics as it looks to expand financing for clean-energy and electric mobility projects in India.

The bond is part of a $75-million green basket bond programme structured by Symbiotics in partnership with British International Investment (BII), the UK’s development finance institution and impact investor.

The capital will be deployed through BHN’s group NBFC, Singularity Creditworld Pvt Ltd, to finance rooftop solar installations, electric vehicles and new-age clean-tech MSMEs. The company is targeting green bond issuances of up to $25 million by the end of the next financial year to scale its green asset financing business.


“Symbiotics' financing is an endorsement of our model and our commitment to inclusive, sustainable lending. This capital comes at a time when India’s energy transition is moving rapidly beyond metropolitan hubs into Tier-2 and Tier-3 cities,” said Keyur Vinchhi, SVP-Strategy and Business Development at Bharat Housing Network.

BHN said it has enabled nearly Rs 2,000 crore of credit to more than 40,000 low- and middle-income borrowers. Its financing has supported the installation of 7,162 KW of rooftop solar capacity and the purchase of more than 800 electric vehicles, with a potential CO2 emissions saving of 1,01,500 tonnes.

The company said it will leverage its co-lending platform and secured lending capabilities to deploy the fresh capital across green financing segments.

“This financing underscores our mission to foster sustainable development in emerging and frontier economies. We look forward to contributing to the growth of green and sustainable lending in India,” said Prashant Bhardwaj, Regional Manager, South Asia at Symbiotics.

BHN, part of Homeville Group, provides technology and infrastructure for capital deployment across mortgages, clean energy, mobility and gold loans. Founded by Lalit Menghani, Madhusudan Sharma and Prasad Ajinkya, the company is backed by NABVENTURES, 100Unicorns, Varanium, Riverwalk and LC Nueva.

The company has also raised debt from lenders including SBI, GMO, ICICI Bank, IDFC FIRST Bank and AU Small Finance Bank.