Nivara Home Finance Raises Rs 245 Cr In Series B Round Led By True North

Housing loan provider Nivara Home Finance has raised Rs 245 Crore (around $28 million) in its Series B funding round led by True North.

The round also saw participation from existing backer Baring Private Equity and promoters.

True North Fund VII will invest Rs 170 crore while Baring PE India and promoters Sunil Rohokale and Monik Koticha will contribute Rs 50 crore and Rs 25 crore, respectively. 

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The fresh funds will help to strengthen its technology platform, expand its distribution network, develop credit solutions and enter new markets.  

Baring PE India had earlier invested Rs 85 crore in Nivara’s Series A round in March 2024.  

“This Series B round will give us the needed strength and impetus to empower us with confidence to grow and expand in more geographies and customer base,” said CV Rao, MD and CEO at Nivara Home Finance.

“We believe the Indian affordable housing sector is poised for substantial growth, and having closely observed the sector’s evolution, we are confident that Nivara, with its innovative approach, strong customer focus, and proven track record, is well-positioned to gain significant market share,” said Maninder Singh, partner, True North.

About Nivara Home Finance

Founded in 2015 by C V Rao, Sunil Rohokale and Monik Koticha, Nivara provides affordable home loans to micro-entrepreneurs and informal salaried workers, with loan amounts ranging from Rs 5 lakh to Rs 7.5 lakh for home purchase, construction, repair and renovation.  

The company currently operates in five states with 68 branches.

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