05 April 2024 – The new funding will fuel the home financing startup’s development and growth goals, according to its statement. Established in 2015, the firm provides micro-entrepreneurs and salaried professionals with small-ticket home loans ranging from INR 5-7.5 Lakh.
As of February 2024, Nivara, which operates via 63 branches across five states, reported gross non-performing assets (NPAs) of 0.58% and an AUM of INR 500 Cr. Investment company Baring Private Equity India led a $10 million (INR 82.4 crore) fundraising round for housing financing startup Nivara Home financing.
The business stated in a statement that it would use the additional funds to support its development and expansion goals. Nivara is a home financing firm founded in 2015 by CV Rao, Sunil Rohokale, and Monik Koticha. It provides micro-entrepreneurs and salaried professionals with small ticket housing loans ranging from INR 5 Lakh to INR 7.5 Lakh.
Conclusion
“Nivara is pleased to collaborate with Baring Private Equity India on its upcoming expansion. We have identified a partner that shares our vision for the sector, and together, we believe there is a sizable underserved market in the ticket size we run in Tier 2, 3, and 4 regions.
