Nivara Home Finance, a Bengaluru-based Housing finance company has raised ₹245 crore in a Series B funding round led by private equity firm True North, with participation from Baring PE India and its promoters, Sunil Rohokale and Monik Koticha.
True North Fund VII will invest ₹170 crore, while Baring PE India and the promoters, Sunil Rohokale and Monik Koticha, will contribute ₹50 crore and ₹25 crore, respectively.
Baring PE India had previously invested ₹85 crore in Nivara’s Series A round in March 2024 at a valuation of around $54.6 million.
The funds raised will be used to enhance its proprietary technology platform, expand into new markets, strengthen distribution networks, and develop credit solutions.
“We believe the Indian affordable housing sector is poised for substantial growth, and having closely observed the sector’s evolution, we are confident that Nivara, with its innovative approach, strong customer focus, and proven track record, is well-positioned to gain significant market share,” said Maninder Singh, partner, True North.
Founded in 2015 by C V Rao, Rohokale, and Koticha, Nivara Home Finance focuses on housing finance, aiming to advance financial inclusion through affordable solutions for underserved communities in India.
Nivara specialises in home loans of ₹5-7.5 lakh for micro-entrepreneurs and informal salaried customers, a segment it believes is underserved by larger lenders. The company has maintained asset quality, with gross non-performing assets (GNPA) below 1%.
The company currently operates 68 branches across five states in southern and western India, with assets under management (AUM) of ₹700 crore.
