Aviom India Housing Finance, which provides secured home loans and loans against property in Tier-II and Tier-III towns, has raised $8 million (around Rs 59 crore) in Series C funding from Sabre Partners.
Aviom was set up in 2016 by Kajaal Ilmi. Ticket sizes for loans it provides typically range from Rs 50,000 to Rs 5 lakh with an average disbursement of around Rs 3 lakh. The housing finance company says it also focuses on women.
The company said it offers home loans for construction, improvement, sanitation, and renovation. It also gives loans against property for business requirements.
Aviom said it provides livelihood to more than 18,000 women through its Shakti Channel which incentivises them to source loans in rural areas.
The company has a presence in 14 states with over 100 branches.
To date, Aviom has raised debt financing from more than 40 lenders including public and private sector banks, global development finance institutions, and domestic finance institutions. Aviom's top lenders include Northern Arc, NHB, MAS Financials, Black Soil, IDFC First Bank, Jana Small Finance Bank, Water Equity, DFC, IndusInd Bank, SBI, and AU Small Finance Bank.
The company said it aims to take its gross loan portfolio to Rs 1,000 crore by the end of FY22 from Rs 465 crore as of March 2021.
Earlier this year in February, Aviom raised Rs 10 crore (around $1.37 million) in debt from BlackSoil India Credit Fund.
In June 2020, VCCircle reported that Aviom had secured $3.7 million (around Rs 26 crore) from existing investor Gojo & Company, Inc., a Japan-based firm that holds stakes in microlenders. That investment marked Gojo’s third in the country following the Covid-19 lockdown.
