Aviom India Housing Finance Pvt. Ltd, a Delhi-based housing finance company, announced that it has raised an investment of $3.7 million from Gojo & Company, Inc., a Japan-based firm that holds stakes in microlenders, according to a VCCircle report.
The company will utilise the fund infusion to set-up additional branches and expand its loan portfolio. The transaction marks Gojo’s third investment in the country post the COVID-19 lockdown.
The capital infusion is part of Gojo’s efforts to give its partner companies enough liquidity to battle through the current period of global crisis. Gojo has invested over $15 million in its partners in the last quarter, added the disclosure.
Kajal Ilmi, MD and founder at Aviom, said, “Our vision is to empower these women with limited literacy levels and ensure their inclusion to the main workforce and give them a status in the society.”
“We are excited to double down on our investment in Aviom and look forward to the journey ahead,” Taejun Shin, founder at Gojo, said.
Founded in 2016, Aviom is a woman-owned, innovative affordable housing finance provider. It offers solutions to the under-served and under-banked informal income segments in semi-urban markets. The company provides loans for home purchase and construction, home extension and improvement and loan against property.
Aviom currently has 12 branches in Rajasthan, 7 branches in Madhya Pradesh and 6 branches in Haryana.
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