Sahaana Sankar led Incofin Boosts Rural Affordable Housing Finance in India with INR 35 Crore Investment

By: WE Staff | Tuesday, 25 July 2023

In a significant move to support India's rural affordable housing finance market, Impact Investment Manager Incofin has invested Rs 35 crore in Varashakti Housing Finance (VHF), marking its first institutional investment in the sector. VHF, under the leadership of Sahaana Sankar, has been making strides in providing housing finance solutions to rural communities, particularly empowering women borrowers.

With a strong focus on asset creation, VHF has already assisted over 4,200 borrowers in three South Indian states, ensuring that women have equal access to financial opportunities and are either primary borrowers or co-applicants in these loan transactions. This commitment to women's financial empowerment is instrumental in bridging the gender gap in the rural housing finance sector.

Founded in 2017 by Sahana, VHF has a mission to transform the aspirational dreams of low-income households into reality by offering tailored and accessible housing finance options. The partnership with Incofin is set to propel its mission even further, allowing the organization to expand its operations and make a more substantial impact on the lives of the rural underserved segment.

Sahaana Sankar, Co-Founder and Director of VHF, expressed her excitement about the collaboration with Incofin, highlighting the potential it brings to enhance their business and improve the overall borrower experience. She emphasized the value of Incofin's global experience, which will undoubtedly contribute to VHF's journey of empowering more individuals in achieving their dream homes.

This investment by Incofin represents a crucial step in advancing financial inclusion and sustainable development in rural India. The cooperation is expected to have a good effect on the social and economic well-being of these households by assisting VHF in providing affordable housing finance to underrepresented areas, particularly women. With a shared vision of financial empowerment and equal opportunities for all, Incofin and VHF are paving the way for a brighter and more inclusive future in the rural housing finance landscape.