Aviom India Raises $30 Million In Series D Funding The fund raised will be utilized to expand its market reach and further strengthen its operational capacities
By Teena Jose
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Aviom India Housing Finance, a micro-mortgage lender backed by C4DPartners, has secured $30 million in a Series D equity investment round led by Nuveen, a prominent global investment management firm. The round includes secondary funding from Nuveen, with C4D Partners announcing a partial exit in the round. C4D Partners had previously infused investment in the New-Delhi headquartered company in its Series B funding round. Apart from Nuveen and C4D Partners, Aviom has raised funds from Japan's Gojo & Company and India-based Sabre Partners.
"As we grow our business further, we're excited to be associating with Nuveen. The funds from this round will support our efforts toward amplifying Aviom's market reach. We also have C4D Partners making a partial exit with this round. C4D has a track record of working closely with its portfolio, and the investor offers immense support beyond just capital. We're happy that we have the opportunity to be working with such investors," said Kajal Ilmi, founder, MD and CEO, Aviom India Housing Finance.
According to the company, the fund raised will be utilized to expand its market reach and further strengthen its operational capacities. The company caters to low-income households in rural and semi-urban areas, providing them with construction, improvement, sanitation, and renovation loans.
"We're thrilled to have witnessed and been a part of their growth trajectory over the past few years. During this time, our relationship has been one of trust and belief in Aviom's vision, potential, and ability to execute. The successful partial exit reinforces our commitment to supporting startups that are innovative, passionate, and focused on creating a positive impact – both in the ecosystem and in society," said Arvind Agarwal, founder and CEO, C4D Partners.
C4D Partners is a gender-smart impact investment fund manager incorporated to invest across sectors in growing startups. Since C4D's investment in Aviom, the company's gross loan portfolio has grown 7 times and it has also increased its employee count from 323 to 2,211, and has built a network of 118 branches across 12 states in India, the company claimed in a statement.
