 "Mortgage lender Aviom India raises $30 mn for business expansion")
Aviom India Housing Finance, a micro-mortgage lender, has raised $30 million in a funding round led by global investment management firm Nuveen. C4D Partners, an investment fund manager, announced a partial exit from the company.
Delhi-based Aviom India said it will use the series D equity investment to expand market reach and strengthen operational capacity. The company provides construction, improvement, sanitation, and renovation loans to low-income households in rural and semi-urban areas.
The company has 118 branches in 12 states and earlier raised funds from Japan’s Gojo & Company and India-based Sabre Partners. It runs a programme that offers loans to women who don’t have formal income documentation and incentivises women agents to source the loans.
“The funds from this round will support our efforts toward amplifying Aviom’s market reach. We also have C4D Partners making a partial exit with this round. C4D has a track record of working closely with its portfolio, and the investor offers immense support beyond just capital,” said Aviom India’s Kajal Ilmi, founder, MD and CEO.
C4D Partners had invested in the company through its Fund-1. The investment fund manager has recently launched their India-dedicated Fund-2.
“Since its inception, Aviom has aimed at creating a disruption in the micro-mortgage space in India. The partial exit reinforces our commitment to supporting startups that are innovative, passionate, and focused on creating a positive impact – both in the ecosystem and in society,” said Arvind Agarwal, founder and CEO of C4D Partners.
The fund claims to be committed to investing at least 30 per cent of its corpus in women SMEs (small, medium enterprises).