Nivara Home Finance Secures INR 245 Cr in Series B Round Led by True North and Baring PE India #IndiaFinance

Bengaluru-based Nivara Home Finance has raised INR 245 crore in its Series B funding round from True North, existing investor Baring PE India, and its promoters, Sunil Rohokale and Monik Koticha.

True North Fund VII led the round with an investment of INR 170 crore, while Baring PE India and the promoters contributed INR 50 crore and INR 25 crore, respectively.

This latest investment aims to accelerate Nivara’s expansion plans, enhance its proprietary technology platform, extend its geographic footprint, and strengthen its distribution network. Additionally, the funds will be used to develop innovative credit solutions tailored to underserved communities in India’s informal housing sector.

C V Rao, Managing Director and CEO of Nivara Home Finance, said, “We are extremely delighted to have True North onboard. Their expertise in financial services will strengthen our growth strategy and help us expand across more geographies and customer segments. This funding round will empower us to revolutionize affordable housing finance in India and establish Nivara as a respected industry leader.”

Baring PE India, which had previously invested INR 85 crore in Nivara’s Series A round in March 2024, reaffirmed its confidence in the company’s growth trajectory with this follow-on investment.

Founded in 2015 by C V Rao, Sunil Rohokale, and Monik Koticha, Nivara Home Finance has distinguished itself by focusing on affordable housing solutions for micro-entrepreneurs and informal salaried workers. Unlike many industry peers, Nivara’s promoters initially bootstrapped the company, infusing approximately INR 100 crore before raising institutional capital in its Series A round.

Maninder Singh, Partner at True North, stated, “We believe the Indian affordable housing sector is poised for substantial growth, and Nivara is at the forefront of this transformation. With its innovative approach and strong customer focus, Nivara is well-positioned to gain significant market share. We are excited to partner with them in their journey ahead.”

Currently, Nivara operates across five states with a network of 68 branches in southern and western India. The company’s Assets Under Management (AUM) stand at approximately INR 700 crore, with a consistently strong asset quality—Gross Non-Performing Assets (GNPA) remaining below 1%.

Nivara’s customer-centric approach and technology-driven lending model have enabled it to cater to home loan seekers with ticket sizes ranging from INR 5-7.5 lakh, a segment often overlooked by larger housing finance players.

With a focus on sustainable and inclusive financial growth, Nivara Home Finance is poised to scale further, leveraging its expertise and new capital to bridge the housing finance gap in India’s underserved communities.