Aviom India Housing Finance Private Limited: Company Profile

Background

Overview

Aviom India Housing Finance Private Limited, established in 2016 by Kajal Ilmi, is a housing finance company headquartered in New Delhi, India. The company specializes in providing affordable housing loans to low-income households, particularly focusing on women borrowers in rural and semi-urban areas. Aviom's mission is to empower women by offering them financial independence through accessible housing finance solutions. Its vision is to become a leading provider of affordable housing loans, contributing to the socio-economic development of underserved communities.

Mission and Vision

• Mission: To empower women and provide them with financial independence by offering accessible housing finance solutions.

• Vision: To become a leading provider of affordable housing loans, contributing to the socio-economic development of underserved communities.

Primary Area of Focus

Aviom focuses on offering housing loans for construction, improvement, sanitation, and renovation, primarily targeting women borrowers without formal income documentation. The loan amounts range from ₹50,000 to ₹5 lakh, with an average disbursement of approximately ₹3 lakh. The company operates across 14 states in India, with over 100 branches, serving low-income households in rural and semi-urban areas.

Industry Significance

Aviom plays a crucial role in the affordable housing finance sector by addressing the financing needs of underserved populations, particularly women. Its innovative approach to micro-mortgage lending has disrupted traditional models, providing financial inclusion to a segment previously excluded from formal credit systems.

Key Strategic Focus

Core Objectives

• Financial Inclusion: Provide accessible housing finance solutions to low-income households, especially women without formal income documentation.

• Empowerment: Empower women by offering them financial independence through homeownership.

• Expansion: Expand the company's footprint to reach more underserved communities across India.

Specific Areas of Specialization

• Micro-Mortgage Lending: Offering small-ticket housing loans tailored to the needs of low-income borrowers.

• Women-Centric Financing: Focusing on providing loans to women borrowers, promoting gender equality in financial access.

• Sanitation-Focused Loans: Providing loans specifically for the construction of sanitation facilities, addressing public health concerns.

Key Technologies Utilized

• Digital Lending Platform: Aviom employs a state-of-the-art digital lending platform to enhance operational efficiency, reduce turnaround times, and ensure effective credit decision-making.

Primary Markets or Conditions Targeted

• Geographical Focus: Rural and semi-urban areas across 14 states in India.

• Demographic Focus: Low-income households, particularly women without formal income documentation.

Financials and Funding

Funding History

• Series A: Insitor Impact Asia Fund invested in Aviom during its Series A round.

• Series B: Gojo & Company and C4D Partners invested in the Series B round in 2019.

• Series C: In October 2021, Aviom raised $8 million in a Series C funding round led by Sabre Partners.

• Series D: In June 2023, Aviom secured $30 million from Nuveen, a global investment manager, in a Series D funding round.

Total Funds Raised

As of June 2023, Aviom has raised a total of $46 million across its funding rounds.

Notable Investors

• Nuveen: Invested $30 million in the Series D round.

• Sabre Partners: Led the Series C funding round with an $8 million investment.

• Gojo & Company: Invested in the Series B round.

• C4D Partners: Invested in the Series B round.

• Insitor Impact Asia Fund: Invested in the Series A round.

Intended Utilization of Capital

The funds raised are primarily intended to:

• Expand Operations: Increase the number of branches and extend services to more underserved areas.

• Enhance Technology: Further develop and implement digital lending platforms to improve operational efficiency.

• Increase Loan Disbursements: Grow the loan book to reach more customers and provide financial assistance to a larger number of families.

Pipeline Development

Key Pipeline Candidates

Aviom's pipeline primarily consists of:

• Housing Loans: Loans for construction, improvement, sanitation, and renovation.

• Loans Against Property: Secured loans for business requirements.

Stages of Clinical Trials or Product Development

As a housing finance company, Aviom does not engage in clinical trials or product development in the traditional sense. However, it continually refines its loan products and services to better meet the needs of its target market.

Target Conditions

• Housing Needs: Addressing the housing requirements of low-income households.

• Sanitation Facilities: Providing loans specifically for the construction of sanitation facilities.

Relevant Timelines for Anticipated Milestones

• Expansion Plans: Aviom aims to increase its monthly disbursement to ₹150 crore and add 50 more branches to its existing network over the next six months.

Technological Platform and Innovation

Proprietary Technologies

• Digital Lending Platform: Aviom has developed a proprietary digital lending platform that streamlines the loan application and approval process, enhancing customer experience and operational efficiency.

Significant Scientific Methods

• Data Analytics: Utilizing data analytics to assess creditworthiness and tailor loan products to the specific needs of borrowers.

• Financial Literacy Programs: Implementing programs to educate borrowers on financial management and loan repayment.

Leadership Team

Key Executive Profiles

• Kajal Ilmi: Founder, Managing Director, and CEO. With over two decades of corporate experience, Ilmi established Aviom to address the housing finance needs of underserved communities, particularly women.

• Ram Kumar: Appointed as the Administrator by the Reserve Bank of India in January 2025.

Leadership Changes

• Board Supersession: In January 2025, the Reserve Bank of India superseded Aviom's board of directors due to governance concerns and payment defaults, appointing Ram Kumar as the Administrator.

Competitor Profile

Market Insights and Dynamics

• Market Size and Growth Potential: The affordable housing finance sector in India is substantial, with significant growth potential due to the large unmet demand for housing among low-income households.

• Industry Trends: There is a growing emphasis on financial inclusion and empowerment of women, leading to increased opportunities for companies like Aviom that cater to these segments.

Competitor Analysis

• Shubham Housing Development Finance Company: Established in 2011, focusing on affordable housing finance.

• Aptus Value Housing Finance India Limited: A public company specializing in affordable housing finance.

• Aadhar Housing Finance Ltd.: Provides affordable housing finance solutions.

Strategic Collaborations and Partnerships

• Nuveen: Invested $30 million in Aviom's Series D funding round, providing significant capital for expansion.

• Gojo & Company: Invested in Aviom's Series B round, supporting the company's growth in the affordable housing finance sector.

• C4D Partners: Invested in Aviom's Series B round, contributing to the company's mission of financial inclusion.

Operational Insights

• Strategic Considerations: Aviom's focus on women borrowers and underserved communities differentiates it from competitors, positioning it as a leader in financial inclusion.

• Competitive Advantages: Proprietary digital lending platform, strong focus on sanitation loans, and a vast network of women agents (Aviom Shakti) provide a unique market position.