Aviom India Housing Finance, the Delhi-based company has raised Rs 15 crore through a primary infusion from Insitor Impact Asia Fund in its Series-A round of funding. "Affordable housing is a critical need for the low-income population in India who don't have access to much needed capital due to lack of formal documentation, financial literacy and presence of mid-level players.This is the...
Aviom India Housing Finance, the Delhi-based company has raised Rs 15 crore through a primary infusion from Insitor Impact Asia Fund in its Series-A round of funding.
"Affordable housing is a critical need for the low-income population in India who don't have access to much needed capital due to lack of formal documentation, financial literacy and presence of mid-level players.
This is the segment we intend to assist by improving financial accessibility. Also, since the first loan applicant is a woman, we think that this will create financial independence and raise a woman's status at home and society," said Kajal Ilmi, Founder, Aviom.
Aviom India Housing Finance was advised by Jerome Merchant Partners with a team led by Partner Sameer Sibal along with Associates Ravishankar M and Rishabh Gupta.
LexStart with a team led by Ashutosh Sharma and Associate Aasim Syed acted for Insitor.
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.