AVIOM India Housing Finance, a micro-contract housing finance company, has brought $8 million up in its Series C round drove by Saber Partners.
According to AVIOM, the assets will be utilized to extend its presence and in business development.
Established in 2016 by Kajal Ilmi, AVIOM caters to low-income families in country and semi-metropolitan regions. It gives credits to ladies borrowers who don’t have any conventional income documentation. The company’s credit ticket size goes from Rs 50,000 to Rs 5 lakh with a normal dispensing of around Rs 3 lakh.
The startup has its presence in 14 states with more than 100 branches. It offers home credits for construction, improvement, sterilization, and redesign. It likewise gives credits against property for business prerequisites.
The company said it intends to take its gross credit portfolio to Rs 1,000 crore before the finish of FY22 from Rs 465 crore as of March 2021. Recently in February, AVIOM had raised Rs 10 crore (around $1.37 million) owing debtors from BlackSoil India Credit Fund.
