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AVIOM Housing Secures $10 Million Debt Funding to Empower Low-Income Borrowers

AVIOM Housing Finance Corporation (AVIOM HFC), a Delhi NCR-based housing finance provider, has secured $10 million in debt funding from the BlueOrchard Microfinance Fund. This funding comes through the allotment of 1,000 bonds with a 72-month maturity.

Founded in 2016 by Kajal Ilmi, AVIOM focuses on a unique social impact mission. They cater to low-income households in semi-urban and rural areas, specifically targeting women who lack formal income documentation. AVIOM offers housing loans for home improvements, renovations, and sanitation projects, effectively addressing the needs of the informal housing market.

The company boasts over 80,000 loans disbursed and a network exceeding 350 branches. They have established partnerships with prominent banks and financial institutions like HDFC Bank, IDFC Bank, and Kotak Mahindra Bank. Additionally, AVIOM also has support from international lenders such as BlueOrchard, Impact Investment Exchange, Triple Jump, and DMC.

This recent funding follows a successful Series D round of $30 million led by Nuveen in April 2023. The Series D round allowed for partial exits for impact VC firms C4D Partners and Gojo & Co., and fueled AVIOM's expansion plans. Back then, the company aimed to increase monthly loan disbursements to ₹150 crore and establish 50 new branches.

Prior to that, AVIOM secured $8 million in Series C funding. With this latest debt infusion, their total funding reaches $54 million. AVIOM competes in a growing market alongside players like DMI Finance, Avanti Finance, and Moneyboxx.

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