KARACHI: Trellis Housing Finance Limited (Trellis) has set the target to deploy at least $100 million housing loans over the next 5 years across the country, a statement said on Tuesday.
The company has also raised an investment round led by local and international investors including Fatima Gobi Ventures (FGVs), Insitor Partners, Zayn Capital, TPL Properties and Taarah Ventures along with angel investors, the statement added.
As urbanisation in Pakistan rapidly rises, with the population in towns and cities expected to double in the next decade, the home financing sector is extremely undersupplied with credit. According to the World Bank, there is a shortfall of 10 million homes and less than 100,000 housing loans outstanding in a country of 220 million people.
Founded in 2020, Trellis set out to give every Pakistani access to affordable housing by establishing a world-class housing finance institution. To date, Trellis has processed over Rs1 billion worth of housing finance inquiries, with numbers growing exponentially daily.
In addition to its own home finance offerings, Trellis has also partnered with some of Pakistan's leading financing institutions, such as HabibMetro Bank, JS Bank, and U Microfinance Bank. By adopting Trellis’ proprietary, fully-digital mortgage origination platform, these partners can accelerate their housing finance deployments to get more families into homes faster.
Trellis Co-founder and CEO Jamshed H Meherhomji said: “In addition to our financial products, we are building the Trellis Network, a rapidly growing ecosystem of real estate, finance, and associated industry partners connecting the dots across the supply chain to further optimise and streamline the home buying experience for everyone.”
Existing home financing solutions in the market typically require two to four months to complete due to manual, paper-based processing. Harnessing technology, Trellis would help aspiring homeowners save time and money.
Trellis and its partners are offering the ‘Mera Pakistan Mera Ghar’ product, which is a government-subsidised financing scheme. Additionally, Trellis offers its own Shariah-compliant ‘GharHo’ product, which is a more comprehensive financing solution for purchasing, constructing, or renovating homes.
There is also an industry-first suite of financing services for builders and developers; aligning buyers, builders, and financial institutions, through the financing of cost-effective high-rise developments.
FGVs General Partner Thomas Tsao said: “FGV’s strong commitment to ESG investing aligns with Trellis, which leverages technology to improve real estate access to underserved communities and drive social impact. We are excited to join Jamshed and his team on their mission to make homeownership universally attainable in Pakistan.”
