The company will use the capital raised to expand its footprint and grow the business further, it said in a statement.
Founded in 2016 by Kajal Ilmi, Aviom India operates in 14 states with over 100 branches. It caters to low-income households in both rural and semi-urban areas. The startup offers home loans for construction, improvement, sanitation, and renovation. It also provides loans against property for business requirements.
The loan ticket size on the platform ranges from Rs50,000 to Rs5 lakh ($663 to $6,636) with average credit disbursement touching Rs3 lakh.
The company has raised debt financing from more than 40 lenders including public and private sector banks, global development finance institutions, and domestic FIs, the statement added.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from October 13-18, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Aviom India Housing Finance||Delhi||8 million||Series C||Sabre Partners||-||Financial Services||Fintech Lending|
|Numadic||Goa||2.5 million||Pre-Series A||9Unicorns, Venture Catalysts||Chona Family Office, senior executives from Netmagic, Oracle, and Google||Logistics/Distribution||Internet of Things|
|VLCC Health Care Limited||Gurugram||5 million||Private Equity||Zall Holdings||-||Consumer Products||Beauty & Hygiene|
|AcknoLedger||Gurugram||1.53 million||Seed||-||Momentum 6, Basics Capital, Krypital Capital, Shima Capital, Magnus Capital, X21, Mayor Capital, Mahadao, Gain Associates, NFT Tech, Oasis Capital, Amesten, Nord finance, Blockventure, AU21, Synapse Network, RedHat Capital, Pro starter, Kardia Ventures, Baselayer Venture, and Zbs capital, Carl Runefelt, Evan Luthra||Financial Services||Blockchain|
|Nap Chief||Mumbai||265,251||Seed||Titan Capital||-||Retail||E-commerce|
|FloCareer||Bengaluru||5.7 million||Series A||Data Point Capital||Uncorrelated Ventures, Orios Venture Partners||Software||HR Tech|
|Duroflex||Kerala||60 million||-||Norwest Venture Partners||-||Consumer Products||E-commerce|
|Fraazo||Mumbai||50 million||Series B||WestBridge Capital||Sixth Sense Ventures, Equanimity Investments, Apar Group, Manish Choksi||Retail||E-commerce|
|Melorra||Bengaluru||24 million||-||Unicorns, Symphony International Holdings Limited, Value Quest, Venture Catalysts, Param Capital||-||Consumer Products||E-commerce|
|AroLeap Fitness Pvt Ltd||Bengaluru||-||Seed||Chiratae, Sauce.vc, Whiteboard Capital||Nithin Kamath (Rainmatter Capital)||Healthcare Services||Fitness & Wellness|
|SaaS Labs||Noida||17 million||Series A||Base10 Partners, Eight Roads Ventures||-||Software||Sales & Marketing Software|