Nivara Home Finance Limited secured Rs 2,450 millon equity funding from True North, along with existing investor Baring PE India and the company's promoters Sunil Rohokale and Monik Koticha.
As part of this Series B round, True North Fund VII will invest Rs 1,700 mn, while Baring PE India and the Promoters will contribute Rs 500 mn and Rs 250 mn, respectively. Baring PE India, which previously invested Rs 850 mn in the company's Series A round in March 2024, continues to back Nivara's growth ambitions with this follow-on investment, reaffirming its confidence in its management and vision.
The company was founded in 2015 by C V Rao, Sunil Rohokale and Monik Koticha. Unlike several peers, the promoters consciously choose to bootstrap the company in the initial stages and have infused ~Rs 1000 mn before the Series A round. The current investment aims to support Nivara's expansion plans to enhance its proprietary technology platform, extend its geographic presence into new markets, strengthen its distribution network, and develop innovative credit solutions. This partnership will also sharpen Nivara's focus on sustainable growth while creating a lasting impact in the affordable housing sector.
Maninder Singh, Partner, True North, said, "We believe the Indian affordable housing sector is poised for substantial growth, and Nivara is at the forefront of this transformation. Having closely observed the sector's evolution, we are confident that Nivara, with its innovative approach, strong customer focus, and proven track record, is well-positioned to gain significant market share. We are excited to partner with them and wish them more milestones in their journey."
C V Rao, MD & CEO of Nivara Home Finance, shared, "We are extremely delighted to partner with True North, who brings an impeccable track record of supporting early-stage companies in the financial services space and helping them to scale the business profitably.
This Series B round will give us the needed strength and impetus to empower us with confidence to grow and expand in more geographies and customer bases and march forward in achieving our vision of revolutionising the way affordable housing finance is done in India and be counted amongst the most respected Housing finance company."
Nivara Home Finance, based in Bengaluru, operates across five states with 68 branches in southern and western India. The company maintains strong asset quality and profitability with an AUM of ~Rs 700cr and a GNPA consistently below 1 per cent. Known for offering accessible financial products, Nivara leverages technology to meet its customers' unique needs.
