Nivara Home Finance, a leading provider of affordable housing finance, has successfully closed a primary funding round, raising $10 million from Baring Private Equity India. The infusion of capital aims to fuel the company’s growth trajectory and support its expansion initiatives, according to a recent press release by Nivara.
Established in 2015 by CV Rao, Sunil Rohokale, and Monik Koticha, Nivara Home Finance offers accessible housing finance solutions to micro-entrepreneurs and salaried individuals. The housing loans provided by Nivara typically range from Rs 5 lakhs to Rs 7.5 lakhs, catering to the diverse needs of its customer base.
Nivara operates across five states, including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, through its extensive network comprising 63 branches. The company boasts an impressive Assets Under Management (AUM) of Rs 500 crore, with gross non-performing assets (GNPA) at a commendably low rate of 0.58% as of February 2024.
Baring Private Equity India, renowned as one of the earliest private equity funds in the Indian subcontinent, has a rich history of investments exceeding $1 billion across more than 90 regional companies. Its notable portfolio companies include Battery Smart, Lohum, mPokket, BluSapphire, and Videoverse.
The collaboration between Nivara Home Finance and Baring Private Equity India signifies a significant milestone for both entities. It underscores their commitment to fostering financial inclusion and empowering individuals through accessible housing finance solutions.
