In its first round of funding, Baring Private Equity India contributed $10 million to Nivara Home Finance.
According to a press release from Nivara, the company would use the round’s proceeds to fuel its growth and expansion.
Dedicated to offering micro-entrepreneurs and salaried clients access to affordable housing finance, Nivara was founded in 2015 by CV Rao, Sunil Rohokale, and Monik Koticha. The loan amount for these housing loans varies from Rs 5 lakhs to Rs 7.5 lakhs.
Currently, Nivara’s network of 63 branches allows it to serve clients in five states: Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra.
As of February 2024, the company’s aggregate value (AUM) was Rs 500 crore, and its gross non-performing assets (GNPA) stood at 0.58%.
One of the first private equity funds in the Indian subcontinent, Baring Private Equity India has invested over $1 billion in over 90 companies in the area. Battery Smart, Lohum, mPokket, BluSapphire, and Videoverse are a few of the companies in its portfolio.
