Nivara Home Finance raises Rs 245 cr in Series B round led by True North

Bengaluru-based Nivara Home Finance has raised Rs 245 crore in a Series B funding round led by private equity firm True North, with participation from Baring PE India and the company's promoters, according to a press statement.

 

True North Fund VII will invest Rs 170 crore, while Baring PE India and the promoters, Sunil Rohokale and Monik Koticha, will contribute Rs 50 crore and Rs 25 crore, respectively. Baring PE India had previously invested Rs 85 crore in Nivara’s Series A round in March 2024.

 

Founded in 2015 by C V Rao, Rohokale, and Koticha, the company focuses on housing finance, aiming to advance financial inclusion through affordable solutions for underserved communities in India.

 

 

The new funding will help enhance Nivara’s proprietary technology platform, expand into new markets, strengthen distribution networks, and develop credit solutions, according to the statement. The company currently operates 68 branches across five states in southern and western India, with assets under management (AUM) of Rs 700 crore.

 

“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.

 

Nivara specialises in home loans of Rs 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 per cent.