Nivara Home Finance Secures ₹245 Cr Funding to Strengthen Network
In a significant development in the Indian financial sector, Nivara Home Finance, a leading housing loan provider, has successfully secured ₹245 crore in a Series B funding round. This investment is expected to bolster the company’s distribution network and further its growth trajectory. The funding round saw participation from existing backer Baring Private Equity, as well as the promoters of the company, Sunil Rohokale and Monik Koticha.
As per the investment details, True North Fund VII will pump in ₹170 crore into Nivara Home Finance, while Baring PE India will invest ₹50 crore. The promoters, Sunil Rohokale and Monik Koticha, will contribute ₹25 crore to the company. This significant influx of capital will enable Nivara Home Finance to expand its reach and strengthen its network, thereby catering to a larger customer base.
Nivara Home Finance, which is a relatively new player in the Indian housing finance sector, has been making rapid strides in recent years. The company’s focus on providing affordable housing loans to individuals and families has resonated well with the Indian market, where there is a significant demand for affordable housing solutions.
The funding round is a testament to the company’s growth potential and its ability to scale rapidly. With this investment, Nivara Home Finance will be able to expand its operations, enhance its technology infrastructure, and strengthen its distribution network. This will enable the company to reach a wider audience, increase its customer base, and further its market share in the Indian housing finance sector.
The Indian housing finance sector has been growing rapidly in recent years, driven by factors such as urbanization, increasing disposable incomes, and a growing demand for housing. According to a recent report by the Reserve Bank of India, the country’s housing finance sector has been growing at a compound annual growth rate (CAGR) of around 15% over the past few years.
Nivara Home Finance is well-positioned to capitalize on this growth trend, with its focus on providing affordable housing loans to individuals and families. The company’s products are designed to cater to the needs of a diverse range of customers, from first-time homebuyers to repeat customers looking to upgrade or renovate their homes.
The investment by True North Fund VII and Baring PE India is a significant vote of confidence in Nivara Home Finance’s growth potential. True North Fund VII is a leading private equity fund that has invested in several successful Indian companies in the past, while Baring PE India is a well-established private equity firm with a strong track record of investing in Indian companies.
The promoters of Nivara Home Finance, Sunil Rohokale and Monik Koticha, have a deep understanding of the Indian housing finance sector and have been instrumental in building the company’s growth strategy. Their investment in the company is a testament to their commitment to the company’s growth and success.
In conclusion, Nivara Home Finance’s securing of ₹245 crore in a Series B funding round is a significant development in the Indian financial sector. The investment will enable the company to strengthen its network, expand its operations, and further its growth trajectory. With its focus on providing affordable housing loans to individuals and families, Nivara Home Finance is well-positioned to capitalize on the growing demand for housing finance in India.
Source: https://inc42.com/buzz/nivara-home-finance-bags-inr-245-cr-to-bolster-its-distribution-network/
