Bengaluru-based Nivara Home Finance has secured ₹245 crore in a Series B funding round led by private equity firm True North. Baring PE India and the company’s promoters participated, according to an official statement.
True North Fund VII wants to invest ₹170 crore, while Baring PE India and promoters Sunil Rohokale and Monik Koticha will contribute ₹50 crore and ₹25 crore, respectively. Notably, Baring PE India had previously infused ₹85 crore into Nivara during its Series A round in March 2024.
Established in 2015 by C V Rao, Rohokale, and Koticha, Nivara Home Finance specializes in housing finance and aims to promote financial inclusion by offering affordable solutions to underserved communities across India.
The fresh capital will enhance Nivara’s proprietary technology platform, expand into new markets, strengthen its distribution network, and develop innovative credit solutions. The company currently operates 68 branches across five states in southern and western India and manages assets worth ₹700 crore.
“We believe the Indian affordable housing sector is poised for substantial growth, and having closely observed the sector’s evolution, we are confident that Nivara, with its innovative approach, strong customer focus, and proven track record, is well-positioned to gain significant market share,” said Maninder Singh, partner, True North.
Nivara focuses on providing home loans ranging from ₹5 lakh to ₹7.5 lakh, catering to micro-entrepreneurs and informally salaried individuals—a segment it considers underserved by larger financial institutions. The company has maintained strong asset quality, keeping its gross non-performing assets (GNPA) below 1%.
