Nuveen invests $30 million in AVIOM HFC for low-income housing lending in India

Nuveen, a global investment manager with more than $1.1 trillion in assets under management, will provide $30 million to AVIOM HFC as part of a Series D funding round through a combination of primary and secondary investments made in installments.

AVIOM HFC is a low-income housing lender that serves underserved communities. To serve a specialized market of informal housing, its business model combines lending with social impact. AVIOM HFC strives to include these families in the realm of official financial services.

“Nuveen seeks out innovative businesses with game-changing business models that address real-world issues,” said Stephen Lee, Senior Director & Head of Asia for Nuveen’s Private Equity Impact Investing team. By serving a previously underserved market, AVIOM and its leadership have revolutionized microlending in India. The company’s track record of strong growth, the quality of its assets, its profitability, and its emphasis on gender inclusion have all greatly impressed us. We are excited to work with Kajal and the AVIOM team on their upcoming growth chapter.

“We’re excited to work with Nuveen. To significantly support low-income households, the company will increase its loan book and operate in newer geographies as a result of the fundraising, according to Kajal L. Mi, MD & CEO at AVIOM India Housing Finance Pvt Ltd. By disbursing approximately INR 1200 Cr. with this, we propose to provide financial assistance to an additional 60,000+ families in the upcoming fiscal year. There are currently more than 50,000 accounts in the company’s customer base. 

She continued, “By 2026, this new equity investment will enable AVIOM HFC to grow six times as fast.” In addition to adding 50 new branches to its current network, AVIOM hopes to increase its monthly disbursement to INR 150 Cr over the next six months.

The company has stayed true to its mission of empowering women through financial independence and inclusion ever since AVIOM’s inception. They have been giving loans to female borrowers who are undocumented and come from primarily semi-urban and rural areas. Affordable mortgages enable women to build homes they could otherwise not afford and establish a credit history. In the future, the company wants to assist more low-income families in semi-urban and rural areas who require home loans for sanitization, renovations, and home improvements.

By assisting their families in obtaining decent housing and sanitation, we are proud to have positively impacted more than 150,000 lives. By the fiscal year 2026, we will increase our efforts to reach 750,000+ people, according to Kajal Ilmi. We are more inspired to carry out our mission of financial inclusion because of this support.

The mission and daily operations of AVIOM HFC are centered on the economic empowerment of women. Over 55,000 women now have quality employment opportunities due to AVIOM HFC’s innovative sourcing model, known as AVIOM Shakti, with plans to add another 5,000 each month. The AVIOM loan referral agents are Shakti officers. As a result, AVIOM ranks among the top employers of women in India’s rural areas. 

The company offers loans for home construction, additions, and renovations in the amount of Rs 1 lakh to Rs 5 lakh. Including Rajasthan, Madhya Pradesh, Uttar Pradesh, Punjab, Uttarakhand, Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, Gujarat, and Haryana, it has a network of 120 branches across 12 states.

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