“The proceeds from the round would be utilized to drive the growth and expansion of the company, Nivara stated in a press release. Founded in 2015 by CV Rao, Sunil Rohokale, and Monik Koticha, Nivara is focused on providing Affordable Housing Finance to micro-entrepreneurs and salaried customers. The ticket size for these housing loans ranges between Rs 5 lakhs – Rs 7.5 lakhs. Presently, Nivara serves clients across five states including Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, and Maharashtra, through its network of 63 branches. The Company has an AUM of Rs 500 crore with gross non-performing assets (GNPA) being 0.58% as of February 2024. Baring Private Equity India is one of the oldest PE funds in the Indian subcontinent and has invested approximately $ 1 billion in more than 90 companies in the region. Some of its portfolio companies include Battery Smart, Lohum, mPokket, BluSapphire, and Videoverse.

Nivara Operations and Expansion

Nivara was formed on December 02, 2014 under The Companies Act, 2013 with an aim to provide home loans mainly to the informal sector of urban India. Later, the company started its operations in October 2015 after securing the necessary Certificate of Registration from the National Housing Bank (NHB) in September 2015. The company is driven by its strong values with compliance to the highest standards of Corporate Governance. With the experience and guidance of the Board, Nivara is committed to bring in revolutionary changes in the affordable housing finance segment. Nivara has its headquarters in Bengaluru with an initial scope of operations in the state of Karnataka before embarking on its journey of stamping a national footprint.

The company’s strong financial position allows it to pursue its expansion plans and continue to serve its growing customer base. Despite facing challenges from the external environment and competition, Nivara remains determined to achieve its vision and objectives. With a dedicated team and strategic partnerships, the company is well-positioned to navigate through the dynamic landscape of the affordable housing finance market.”

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