Aviom India Housing Finance has raised INR 10 Crs debt from Mumbai based Blacksoil’s new alternate investment fund, Blacksoil India Credit Fund. The Delhi based HFC plans to disburse INR 250 Crores in this financial year. The company has previously raised INR 60 Crores in equity from marquee investors like Gojo from Japan and C4D till date and over INR 350 Crores in debt from 37 lenders.

Aviom provides secured home loans and loans against property in tier-2 and tier-3 towns through a branch model. The ticket size typically ranges from INR 1-5 Lakhs, a segment largely underserved and unexplored by other players and thus, promotes financial inclusion. The company also empowers women by making them first applicants on all loan applications. The sourcing is also done by engaging local women. The company also educates their customers on the importance of sanitation and the construction of toilets is mandatory for availing loans.

The company was founded by KajaalIlmi and began operations in Aug-2016. It has opened 104 branches till date across 14 States. The company has disbursed INR 460 Crores till date to over 18000 women and is profitable.
“We are delighted to partner with BlackSoil and looking forward strengthening the relationship further”, said Aviom founder, KajaalIlmi.

“The sound underwriting and collection processes at Aviom have ensured the continuing resilience of its portfolio even in the current environment. We are impressed with their business model and look forward to support them in growing their portfolio and expanding their presence in new geographies”, stated Ankur Bansal, co-founder of Blacksoil Capital.

The portfolio quality of the HFC has remained strong despite the pandemic and the ensuing lockdown. The HFC had already recovered to over 90% collection efficiency by December 2020. The company did not avail moratorium from any of its lenders during this period. The company has also managed to raise over INR 150 Crores from 19 lenders post March 2020 during the lockdown.

BlackSoil is a sector agnostic alternative credit platform and has deployed INR 1,000 Crore in the last 4 years across 80+ transactions. It has also completed over 45 deals in the venture debt space and disbursed ~INR 450 crores already in the past 4 years of operations.

Blacksoil’s past deals include OYO, Spinny, Purplle, Zetwerks, Vogo and TVF amongst others. Blacksoil has recently raised INR 126 Crores for the first close for its maiden secured Credit Fund. Aviom is the second disbursement through this Credit Fund.