Aviom received $30 M Series D funding from investment management firm Nuveen
A $30 million equity investment was made in the micro-mortgage housing finance company Aviom India Housing Finance in a Series D round that was headed by the international investment management company Nuveen. In the previous 20 months, this is the first investment made in the Delhi-based business.
According to a press release from the company, the funding also includes a secondary transaction from Nuveen, with C4D Partners announcing a partial exit.
To date, Sabre Partners, Bloacksoil, and Japan’s Gojo have contributed over $52 million to Aviom. The company intends to use the additional proceeds to increase its operational capabilities and broaden its market reach.
According to the company, since C4D’s investment, its gross loan portfolio has increased seven times. Along with expanding its network of 118 branches across 12 states in India, it has also increased the number of employees it employs from 323 to 2,211.
Aviom, a company founded in 2016 by Kajal Ilmi, offers construction, improvement, sanitation, and renovation loans to low-income households in rural and semi-urban areas. Additionally, it provides loans to female borrowers without formal proof of income and rewards female agents for finding loans.
The operating revenue for Aviom increased 79.6% to Rs 157.82 crore in FY22 from Rs 87.85 crore in FY21. In FY22, the company turned a profit, posting Rs 12.2 crore in profit compared to Rs 1.93 crore in loss, according to the financial statement filed by the company with the RoC.
