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AVIOM Housing Finance bags INR 10 crore debt from Blacksoil India

AVIOM

Source: TechStory

AVIOM Housing Finance is a Delhi-based housing finance company that has recently announced to have raised INR 10 crore in debt from Mumbai-based Blacksoil India Credit Fund which is the new alternate investment fund of Blacksoil.

As mentioned in a report by YourStory, the housing finance company mentioned in an official statement that it is in talks to disburse INR 250 crores in this current Financial Year 2021. Kajal Llmi, AVIOM Housing Finance, Managing Director and founder mentioned in a statement that the start-up is excited to partner with Blacksoil India and looking forward to strengthening their relationship further.

Founded back in 2016 by Kajal llmi, AVIOM India is an affordable housing finance company that provides homes to families mostly in semi-urban areas. The start-up provides financial assistance to families that are looking to buying their dream homes. Other than this, the company does not ask for any income documents while providing home loans which serves as a major Unique Selling Point.

AVIOM Housing Finance empowers women by making them first applicants on all home loan applications served by them which adds to the company’s plus points in these gender-neutral times.

Ankur Bansal, Co-founder of Blacksoil Capital mentioned in a statement that the sound collection and underwriting process at AVIOM have ensured resilience in its portfolio which has impressed them with their business model. He added that Blacksoil looks forward to supporting the housing finance company in its growth and presence in new geographies.

AVIOM Housing Finance has till date raised total funding of USD 14.4 million in over 3 financing rounds excluding the latest funding. The last funding was raised back in June last year in a corporate round worth USD 3.7 million from Tokyo based Gojo & Company.

Existing investors of the company includes Amsterdam-based investment firm- C4D Partners that participated in the company’s Series B round and Insitor Partners from Luxembourg that participated in AVIOM’s series A financing round.

Blacksoil on the other hand is an active investor in the Indian start-up ecosystem and its portfolio includes investing in start-ups like Rentmojo, OYO Rooms, Chumbak, LetsTransport and edtech start-up, iNurture among several others.

The Indian start-up ecosystem is growing strong with the boost from the ongoing digitisation wave. COVID-19 has also played a major role in creating start-up opportunities in India. Global investors are turning their heads towards the Indian market as it shows a lot of potential in the recent past. Housing finance is a major niche in India that shows a lot of promising growth in the market and with start-ups like AVIOM Housing Finance, many families will find their new homes in Tier-I and Tier-II cities in India.

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