Weaver Services raises Rs 1,450 crore in rounds led by Premji Invest and Lightspeed

Weaver Services Private Limited (Weaver) today announced the completion of a two-tranche capital raise totalling Rs 1,450 crore, a dedicated capital raise in India’s affordable housing finance segment in recent years. The capital will fund Weaver’s acquisition of a 75.01% controlling stake in Centrum Housing Finance Limited (CHFL), the housing finance arm of Centrum Capital Limited, following receipt of all regulatory and shareholder approvals.

Premji Invest, which backed Weaver in its founding round and has now increased its commitment significantly, co-led the latest Rs 950 crore raise alongside Lightspeed Venture Partners (Lightspeed), one of the technology investors, making its first bet in this space. Gaja Capital and a group of senior financial services professionals complete the investor syndicate.

Satrajit Bhattacharya, Promoter & Executive Vice Chairman, Weaver Services said in a statement “There are roughly 100 million households in India who need a home and can afford one. Most of them will never get a mortgage from a traditional bank. Weaver Services was built to change that.”


Weaver and Morgan Stanley have also entered into definitive agreements for Weaver to acquire Morgan Stanley’s remaining 24.99% stake in CHFL, subject to necessary approvals, a transaction that would, once concluded, make Weaver the sole institutional owner of CHFL.

CHFL joins People Home Finance Limited, which Weaver acquired in August 2025, to form a combined group with assets under management in excess of Rs 2,000 crore and a branch network of 140 locations across India. The two companies will be merged in the near future into a single, unified institution, one with the operational scale, geographic reach, leadership calibre and capital depth to serve customers that India’s formal financial system has long overlooked: self-employed individuals, small business owners, and first-generation homebuyers in Tier 2 and Tier 3 towns. The merged entity will offer home loans, self-construction loans, home improvement loans, and loans against property, with a specific and structural commitment to women’s financial inclusion.

Satrajit Bhattacharya, Promoter & Executive Vice Chairman, Weaver Services, said, “For most of my career, I watched India’s financial system draw an invisible line. On one side: salaried, documented, legible to a lender. On the other: everyone else; the mason who built his city’s skyline but couldn’t mortgage a room in it, the woman running a business from her home who has never been offered a loan in her own name. Weaver is not a gap-filler. It is a rethink of who deserves credit and why.
I am deeply grateful to Premji Invest for their belief in us from the very beginning and for choosing to deepen that commitment when they didn’t have to. That says something about the quality of a partner. I am equally grateful to Lightspeed for seeing in this work what we’ve always believed: that technology applied to underserved markets is not just good business, it is transformative.
With CHFL joining People Home, we now have the platform we imagined. The branch network. The capital. The team. What comes next is the part that matters: going out and doing it.”

Saravanan Nattanmai, Partner, Premji Invest, added, “We backed Weaver because we believed the founders understood the problem at its root, not as a market opportunity to be captured, but as a structural failure to be corrected. What we have watched since is a team that executes with discipline and leads with purpose. Increasing our commitment in this round was not a difficult decision. Weaver is building something that will matter for a long time.”

Anuvrat Jain, Partner, Growth Investments, Lightspeed, noted, “India’s housing finance market remains deeply underpenetrated, creating a large, long-duration opportunity at the intersection of technology and financial inclusion - our thesis and conviction lie in this. Weaver’s AI-driven underwriting stack and deep domain expertise will help make financing accessible and affordable to borrowers from all walks of life. We are very excited to back the bold vision of the team, their clarity of purpose, to build a truly category-defining housing finance platform for years ahead.”

Anil Kothuri, MD & CEO, People Home Finance Limited, said, “The two platforms we are bringing together were built on the same belief: that a payslip should not be the price of admission to home ownership. People Home and CHFL together give us the scale and the reach to act on that belief at a level neither could achieve alone. I am excited about what we now get to build for our customers.”

Jaspal Bindra, Executive Chairman, Centrum Capital Limited, stated, “CHFL has grown steadily and profitably since inception, and we are proud of what the team has built. Finding the right home for it, a platform with Weaver’s ambition, capital backing, and technological edge, was important to us. We believe this is the right partnership to take CHFL to its next chapter of scale.”

Gopal Jain, Managing Partner, Gaja Capital, said, “The acquisition of Centrum Housing marks a pivotal milestone in Weaver’s mission to bridge the gap in the underserved affordable housing finance sector. With a high-calibre team, board, and institutional governance, along with a strong focus on digital innovation, Weaver is well positioned to scale its operations and emerge as a leader in inclusive housing finance in India.”