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    Aviom India Housing Finance raises $8 million in Series C funding

    Synopsis

    Founded in 2016 by Kajal Ilmi, Aviom India Housing Finance provides small loans — Rs 50,000 to Rs 5 lakh — to women borrowers in rural and semi-urban areas. The average disbursement is Rs 3 lakh.

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    Aviom India Housing Finance, which deals in micro mortgages, has raised $8 million in a Series C funding round led by Sabre Partners.
    Chennai: Aviom India Housing Finance, which deals in micro mortgages, has raised $8 million in a Series C funding round led by Sabre Partners.

    The company has received debt financing from more than 40 lenders, including public and private sector banks, and global and local development financial institutions. It aims to take its gross loan portfolio to Rs 1,000 crore by the end of 2021-22 from Rs 465 crore in FY21.

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    Founded in 2016 by Kajal Ilmi, Aviom India Housing Finance operates in 14 states with over 100 branches. It caters to low-income households in rural and semi-urban areas. It provides loans worth Rs 50,000 to Rs 5 lakh to women borrowers, who do not have any formal income documentation. The average disbursement is Rs 3 lakh.

    The company offers home loans for construction, improvement, sanitation and renovation. It also gives loan against property for business requirements and has a digital lending platform.
    The Economic Times

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