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Fintech startup Aviom India raised $8 million in Series C round, this company invested

According to the report, Aviom India works with over 100 branches across 14 states and caters to low-income households in both rural and semi-urban areas

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Photo from Unplash
Photo from Unplash

Fintech startup Aviom India has raised $8 million from Sabre Partners in a Series C round. According to the report of a web portal, this startup providing loans to low-income families will use the new investment for business growth. Kajal Ilmi, Founder, Aviom India, said, “We are excited to partner with such pedigree investors and use the funds to expand our footprint and grow the business.”

According to the report, Aviom India works with over 100 branches across 14 states and caters to low-income households in both rural and semi-urban areas. The startup offers home loans for construction, improvement, sanitation and renovation as well as loan against property for eight business needs.

Photo from Unplash

Photo from Unplash

Aviom India also offers loans to women borrowers who do not have any formal income documents. According to the company it provides livelihood to over 18,000 women living in rural areas through its Shakti Channel. The company also said that its digital lending platform helps in increasing operational efficiency and reducing turnaround time. thereby ensuring effective credit decision-making.

Aviom India had a gross loan portfolio of Rs 465 crore at the end of the 2020-21 financial year and is aiming to take it to Rs 1,000 crore by the end of the current financial year. The startup top lenders include IDFC First Bank, Northern Arc, NHB, IndusInd Bank, SBI, AU small finance bank and AWater Equity.

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