AVIOM Housing Finance raises Rs 60 cr from foreign investors

Mortgage lender AVIOM Housing Finance on Monday said it has raised Rs 60 crore from foreign investors. Gojo & Company, Inc JAPAN, and Capital 4 Development Asia Fund Netherlands have done series B round of funding, AVIOM Housing Finance said in a statement.

The latest round of funds will take equity to about Rs 86 crore and help the company expand its reach by penetrating into cities of Rajasthan, Madhya Pradesh, Maharashtra, Karnataka, Uttarakhand and Delhi-NCR, it said. While the company's current borrowing stands at Rs 150 crore, it intends to raise another Rs 500 crore in debt in the coming year, the statement said.

The housing finance company had earlier raised Rs 15 crore in its series A round of funding from Singapore-based impact-focused venture capital firm Insitor Management.