In the only primary round, Nivara Home Finance has secured USD 10 mn from Baring Private Equity India. The company’s development and growth would be fueled by the round’s funds.
The establishment of Nivara Home Finance Ltd. was driven by the desire to contribute to human growth and offer house loans.
Read also – [Funding alert] Healthtech Startup Curelo Secures Rs 10 Cr From Shreyas Iyer, IIMA Ventures, and Others
With its network of sixty-three locations, Nivara currently provides services to clients in five states: Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra.
“Nivara is proud to partner with Baring Private Equity India in its next growth phase. There is a large underserved market in the ticket size we operate in Tier 2, 3, and 4 markets, and we have found a partner who shares our vision for the segment. This funding round will enable us to cement our position in this segment further and leapfrog our growth plans,” said CV Rao, MD & CEO, Nivara.
These house loans typically have ticket sizes between INR 5 lakhs and INR 7.5 lakhs. This is a particularly untapped market given the majority of affordable home finance counterparts offer ticket sizes of INR 9–10 lakhs or more.
Debanshi Basu, Senior Principal at Baring Private Equity India, said, “The affordable housing finance space is poised for significant growth. Nivara’s focus on asset quality, its commitment to underserved segments, and the experience, expertise, and exceptional governance practices the management team, will propel the franchise for a long time to come.”
About Nivara Home Finance
The Companies Act, 2013 allowed Nivara to be incorporated on December 02, 2014, with the primary goal of lending money for homes to India’s urban informal sector. Later, in October 2015, the business started after receiving the required Certificate of Registration in September 2015 from the National Housing Bank (NHB).
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
