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AVIOM HFC is an affordable housing lender to under-served, low-income households. Its business model combines lending with social impact - catering to a niche market of informal housing. AVIOM HFC works towards bringing these families into the fold of formal financial services.
Stephen Lee, Senior Director & Head of Asia for Nuveen’s Private Equity Impact Investing team said: “Nuveen seeks out innovative companies with transformative business models that solve real-world problems. AVIOM and its leadership have disrupted micro-mortgage lending in India by catering to a hitherto underserved segment. We have been greatly impressed by the company’s history of strong growth & asset quality, profitability profile, and focus on gender inclusion. We look forward to partnering with Kajal and the AVIOM team on their next chapter of growth.”
“We are delighted to partner with Nuveen. The fundraise will propel the company’s loan book and expand its operations into newer geographies to meaningfully support low- income households,” commented Ms. Kajal llmi, MD & CEO at AVIOM India Housing Finance Pvt Ltd. “With this, we propose to extend financial assistance to around 60,000+ families additionally in the next FY by disbursing approx. INR 1200 Cr.” The Company currently has a customer base of around 50,000+ accounts.
“This new equity investment will propel AVIOM HFC to grow 6x by 2026.” she added. Over the next 6 months, AVIOM looks to increase its monthly disbursement to INR 150 Cr a month and will also add 50 more branches to its existing network.
Since AVIOM’s very inception, the company has remained true to its mission of empowering women through financial independence and inclusion. They have been providing loans to women borrowers from predominantly semi-urban and rural regions who do not have any formal income documentation. Affordable mortgages enable women to build homes they could otherwise not afford and establish a credit history. Going forward, the company aims to help more people in low-income households across semi- urban and rural areas who needs home loans for home improvements, renovations, and sanitation."
We are proud to have impacted 150,000+ lives by helping their families access good quality housing & sanitation. We will redouble our efforts to touch 750,000+ lives by fiscal 2026," said Ms. Kajal Ilmi. “With this support, we are further motivated to deliver on our mission of financial inclusion."
Women’s economic empowerment is at the very core of AVIOM HFC mission and operations. AVIOM HFC innovative sourcing model, known as AVIOM Shakti, also creates quality employment opportunities for over 55,000 women—with plans to add 5,000 on monthly basis. Shakti officers are the referral agents for AVIOM loans. This in turn makes AVIOM one of the largest employers of women in rural regions in India.
The company provides loans in the range of Rs 1 lakh to Rs 5 lakh for house construction, extension, and renovation. It has a network of 120 branches in 12 states, including Rajasthan, Madhya Pradesh, Uttar Pradesh, Punjab, Uttarakhand, Karnataka, Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, Gujarat, and Haryana.
AVIOM HFC has been supported by various marquee Debt Partners.
International Lenders: US International Development Finance Corporation (DFC), Blue Orchard, Impact Investment Exchange (IIX), Triple Jump and Symbiotic.
Banks & Financial Institutions: State Bank of India, HDFC Bank, Northern Arc, Federal Bank, IndusInd Bank, Tata Capital, Vivriti, Jana Small Finance Bank, Hinduja Leyland Finance, Aditya Birla Finance, Caspian, Shriram Housing Finance, Black Soil, SBM Bank, LIC Housing Finance, Cholamandalam Investment & Finance Company, Tourism Finance Corporation of India, ESAF Small Finance Bank, Utkarsh Small Finance Bank, IDFC First Bank, Manappuram Finance Limited, Nabsamruddhi Finance and Indian Bank.
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