True North Charts a ₹245 Cr Course with Nivara Home Fin

Nivara Home Finance raised ₹245 crore in a Series B round from True North Fund VII, existing investor Baring PE India (₹50 crore), and promoters Sunil Rohokale and Monik Koticha (₹25 crore). Bengaluru-headquartered Nivara specializes in affordable housing loans to under-served segments like micro-en...

Nivara Home Finance raised ₹245 crore in a Series B round from True North Fund VII, existing investor Baring PE India (₹50 crore), and promoters Sunil Rohokale and Monik Koticha (₹25 crore). Bengaluru-headquartered Nivara specializes in affordable housing loans to under-served segments like micro-entrepreneurs and salaried informal workers. Nivara commenced operations in 2015. The objective is to utilize the proceeds in augmenting its own technology platform, expanding geographically into new markets, strengthening its distribution channels, and developing innovative credit products. It has five states with 68 branches with good asset quality with GNPA of below 1% and AUM of ₹700 crore. True North's Maninder Singh liked Nivara's pioneering approach and the potential of its leadership in leading India's affordable housing sector revolution. Source: Moneycontrol, Business Standard