Funding Alert

Aviom India raises funds in Series C funding round

• ByManjeet Singh     |    October 19, 2021

As part of Series C funding, Aviom India Housing Finance has raised $8 million (roughly Rs 59 crore) from Sabre Partners. It offers secured home loans and loans against property in Tier II and Tier III towns. 

Kajaal Ilmi founded Aviom in 2016. It provides loans ranging from Rs 50,000 to Rs 5 lakh, with an average disbursement of around Rs 3 lakh. 

Home loans are offered by the company for construction, improvement, sanitation, and renovation. Loans against property are also available for business purposes.

Over 40 lenders have provided debt financing to Aviom, including public and private banks, international development finance institutions, and domestic finance institutions. Among Aviom’s top lenders are 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. 

According to the company, its gross loan portfolio is slated to increase to Rs 1,000 crore by March 2022 from Rs 465 crore as of March 2021.

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