Delhi NCR-based AVIOM Housing Finance Corporation (AVIOM HFC) has raised a debt funding of $10 Mn from BlueOrchard Microfinance Fund
The startup is allotting 1,000 bonds to BlueOrchard Microfinance Fund with a tenure of 72 months, as per its regulatory filing
Founded in 2016 by Kajal Ilmi, AVIOM provides housing loans to low-income households across the country
Delhi NCR-based AVIOM Housing Finance Corporation (AVIOM HFC) has raised a debt funding of $10 Mn from BlueOrchard Microfinance Fund.
The startup is allotting 1,000 bonds to BlueOrchard Microfinance Fund with a tenure of 72 months, as per its regulatory filing.
Founded in 2016 by Kajal Ilmi, AVIOM provides housing loans to low-income households across the country. The startup claims to combine lending with social impact – catering to a niche market of informal housing. AVIOM offers housing loans to individuals for home improvements, renovation, and sanitation.
AVIOM primarily provides loans to women from predominantly semi-urban and rural regions who do not have any formal income documentation. It claims to have a live customer base of around 50,000.
AVIOM claims to have disbursed over 80,000 loans till date and has over 350 branches.
AVIOM has partnered banks and financial institutions such as HDFC Bank, IDFC Bank, Kotak Mahindra Bank, and Northern Arc. It also counts Impact Investment Exchange, BlueOrchard, Triple Jump, and DMC among others as its international lenders.
The fresh fundraise comes almost a year after AVIOM raised $30 Mn in its Series D funding round led by Nuveen via a mix of primary and secondary investments in tranches. The funding round provided a partial exit to impact VC firm C4D Partners and Gojo & Co.
Back then, the startup said it intended to increase its monthly loan disbursements to INR 150 Cr and add 50 more branches to its existing network.
Prior to that, AVIOM HFC raised $8 Mn in its Series C funding round. Overall, it has raised a total funding of $54 Mn till date.
AVIOM HFC competes against the likes of DMI Finance, Avanti Finance, and Moneyboxx.
