Delhi-based Aviom India Housing Finance has raised Rs 15 crore through a primary infusion from Insitor Impact Asia Fund in its Series-A round of funding.
Insitor Management is an impact-focused venture capital firm based in Cambodia which invests across India, Myanmar, Cambodia and Pakistan. Investment advisory firm Unitus Capital was the exclusive financial advisor to Aviom India Housing Finance for this transaction.
The housing finance company provides loans to low-income individuals and families, and currently has 14 branches in Rajasthan and Madhya Pradesh. It plans to use the funds raised in this round to increase its branches and expand operations in tier-II and tier-III towns in existing states, and subsequently expand to other states.
Aviom India Housing Finance, which has a debt line of Rs 17.5 crore, intends to raise another Rs 100 crore in the next six months.
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