Nivara Home Finance has raised $10 million from Baring Private Equity India in a primary funding round.
The proceeds from the round would be used to drive the growth and expansion of the company, Nivara said in a press release.
Founded in 2015 by CV Rao, Sunil Rohokale and Monik Koticha, Nivara is focused on providing affordable housing finance to micro-entrepreneurs and salaried customers. The ticket size for these housing loans ranges between Rs 5 lakhs-Rs 7.5 lakhs.
Presently, Nivara serves customers across five states including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, through its network of 63 branches.
The Company has an AUM of Rs 500 crore with gross non-performing assets (GNPA) being 0.58% as of February 2024.
Baring Private Equity India is one of the oldest PE funds in the Indian subcontinent and has invested approximately $ 1 billion in more than 90 companies in the region. Some of its portfolio companies include Battery Smart, Lohum, mPokket, BluSapphire and Videoverse.
