Exclusive: AVIOM Housing Finance Raises $5 Mn Debt From InsuResilience Investment Fund

SUMMARY

AVIOM raised the funding by allotting 500 secured, listed US dollar denominated bonds to InsuResilience Investment Fund

InsuResilience Investment Fund, formerly known as Climate Insurance Fund, is an initiative by the German development bank KfW

Founded in 2016, AVIOM provides housing loans to low-income households across the country and has raised a total funding of over $54 Mn till date

Delhi NCR-based AVIOM Housing Finance has raised $5 Mn debt funding from InsuResilience Investment Fund, the startup’s regulatory filings revealed.

AVIOM raised the funds by allotting 500 secured, listed US dollar denominated bonds to InsuResilience Investment Fund.

InsuResilience Investment Fund, formerly known as Climate Insurance Fund, is an initiative by the German development bank KfW on behalf of Germany’s Ministry for Economic Cooperation and Development (BMZ).

The objective of the fund is to reduce the vulnerability of micro, small, and medium enterprises (MSME) and low-income households to extreme weather events.

The fundraise comes almost a couple of months after Inc42 exclusively reported about AVIOM raising $10 Mn in debt funding from BlueOrchard Microfinance Fund.

Founded in 2016 by Kajal Ilmi, AVIOM provides housing loans to low-income households across the country. It claims to combine lending with social impact and caters to the niche informal housing market. The startup offers housing loans to individuals for home improvements, renovation, and sanitation.

It primarily offers 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 loans worth 80,000 loans across 13 Indian states till date. It has over 350 branches across the country.

The startup counts BlueOrchard Impact Investment Managers, DFC, Triple Jump among its marquee investors. It is also backed by financial institutions like Vivriti Capital, Aditya Birla Capital, and Mahindra Finance Fund.

In April last year, AVIOM raised $30 Mn in its Series D funding round led by Nuveen. It was a mix of primary and secondary investments and provided a partial exit to impact VC firm C4D Partners and Gojo & Co.

Prior to that, AVIOM raised $8 Mn in its Series C funding round. Overall, it has raised a total funding of $54 Mn till date.

AVIOM competes against the likes of DMI Finance, Avanti Finance, and Moneyboxx.

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