AVIOM India Housing Finance, based in Delhi, has managed to raise sixty crore Indian Rupees in its Series B funding round by the Gojo & company, Incorporation in JAPAN and the Capital 4 Development Asia Fund in Netherlands. The Investment advisory firm, Unitus Capital held the title of exclusive financial advisor to the company.
The last round of funding shall increase the equity of the company to 86 crore Indian Rupees. The current borrowings of AVIOM stand at 150 Crore Indian Rupees, and the firm plans on raising another 500 Crore Indian Rupees in debt in the next year.
Recently, the company has raised 15 Crore Indian Rupees in the Series A round of funding by the impact-focused venture capital which is based in Singapore, Insitor Management.
The founder of Gojo & Corporation, Taejun sin, marking entry into the sector of housing finance, said that AVIOM had been actively addressing the pressing issue for several Indian households that were constantly searching for affordable housing loans yet somehow failed to secure them. He said that they hoped that their equity partnership would significantly contribute towards the business expansion of Aviom and the life improvements of their clients.
With the help of this funding, the company planned to venture into the Tier 2 and Tier 3 cities of the Rajasthan, Delhi NCR, Karnataka, Madhya Pradesh, Maharashtra, and Uttaranchal. The company intended to give loans to the families that were otherwise rejected by the big insurance companies.