Aviom India Housing Finance Raises Equity Funding of Rs 15 Cr

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Delhi-based Aviom India Housing Finance Pvt. Ltd. (“Aviom”), has raised Rs. 15 crores through a primary infusion from Insitor Impact Asia Fund in its Series A round of funding. Founded in 2016 by Kajal Ilmi, Aviom provides affordable housing finance loans to low-income individuals and families and currently operates out of 14 branches in Rajasthan and Madhya Pradesh. The funds raised in this round will Aviom increase branch network and operations in Tier 2 and Tier 3 towns in existing states and subsequently expand to other states.

Aviom has a debt line of Rs. 17.5 Crs from banks and NBFCs and they intend to raise a further Rs.100 Crs in the next six months. As of 31st January 2018, Aviom has had a total loan disbursement of 956 loans amounting 31 crores. Investment advisory firm, Unitus Capital, was the exclusive financial advisor to Aviom for this transaction.

Speaking on Aviom’s future plans, Kajal Ilmi, Founder, Aviom said, “Affordable housing is a critical need for the low-income population in India who don’t have access to much needed capital due to lack of formal documentation, financial literacy and presence of mid-level players. This is the segment we intend to assist by improving financial accessibility. Also, since the first loan applicant is a woman, we think that this will create financial independence and raise a woman’s status at home and society.

We believe that our goal is in perfect alignment with Insitor, who have a strong focus on the bottom of the economic pyramid. We believe that this alliance will help us expand faster and fulfil the dream of many millions to own their own home.”

Commenting on this synergy, Nicholas Lazos, Co-Founder and Investment Director of Insitor Impact Asia Fund said, “Aviom is addressing a critical need-gap in the underserved market by making credit available to the undocumented income segment through their efficient business model. We believe that this collaboration will help us make a significant impact in the Indian market. Insitor is delighted to partner with Kajal and her team to build a market leading platform for affordable housing finance in the country.”

Abhijit Ray, Co-Founder & MD, Unitus Capital said that “Affordable housing is one of the focus areas of the current Government and the sector is poised to grow manifold. Aviom is one of the new age housing finance companies in India and their focus on technology and stellar credit quality is a validation of their robust business model and enlightened leadership. We look forward to seeing this partnership grow and are excited for what it will achieve for all stakeholders.”

Apart from customized home loan solutions to purchase homes, Aviom also provides semi-urban families In Tier 2/3 towns with legal and technical counselling to make an informed decision. Affordable interest rates coupled with custom repayment options allows a large cross section of India’s aspirational families realize their dream of owning a home.


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