Updated Apr 05, 2024, 12:25 PM IST
Founded in 2015, Nivara Home Finance is focused on providing affordable housing finance to micro-entrepreneurs and salaried customers; currently operates across five states—Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra
24 Jun 2018 – Economic Times by Rahul Sachitanand
CV Rao, a banker with more than two decades of experience, took the old-fashioned route with his venture, Nivara Home Finance. The former senior executive with ICICI Bank, with extensive experience in housing finance, decided to avoid the crowded market serviced by large financial services companies.
3 July 2018 Business Standard by Namrata Acharya
“Our typical clients are workers — such as carpenters, drivers, barbers or domestic helps — who possess some land from ancestral property. The growth in the segment is quite robust. In a small period of time, we have a loan portfolio of about Rs 1 billion and we are targeting to double the portfolio in the next one year,” said C V Rao, managing director and CEO, Nivara.
Nivara Home Finance Ltd said Monday it has raised fresh capital in a Series B funding round led by private equity firm True North.
True North, via its seventh fund, invested Rs 170 crore while existing investor Baring PE India chipped in with Rs 50 crore, the mortgage lender said in a statement.
The company’s promoters Sunil Rohokale and Monik Koticha will contribute Rs 25 crore in the round Nivara said. This takes the total capital raised in the Series B round to Rs 245 crore ($28.2 million), though the external funding amount is Rs 220 crore.
10 Jun 2019 Business Standard by Namrata Acharya
Micro housing finance companies are finding it increasingly difficult to raise funds with the crisis at Dewan Housing Finance Limited (DHFL) worsening.
During the past few years, the push for affordable housing has led to the mushrooming of several micro housing finance firms, which mostly provide loans to the informal sector. The average loan size varies between Rs 5-10 lakh.
