True North Leads Rs 245 Crore Fundraising for Nivara Home Finance Expansion

True North led a Rs 245 crore fundraising for Nivara Home Finance, with contributions from Baring PE India and promoters Sunil Rohokale and Monik Koticha. The funds will support expansion plans and technological enhancements, aiming to boost Nivara's reach and solutions in the non-bank lending sector.

Homegrown private equity firm True North spearheaded a Rs 245 crore fundraising campaign for non-bank lender Nivara Home Finance, with significant input from Baring PE India and the company's promoters, Sunil Rohokale and Monik Koticha.

The financial injection will see True North Fund VII invest Rs 170 crore, while Baring PE India and the promoters contribute Rs 50 crore and Rs 25 crore, respectively. Notably, Baring had previously invested Rs 85 crore just a year prior, following a significant Rs 100 crore commitment by the promoters since Nivara's inception in 2015.

This funding round is set to propel Nivara's ambitious expansion strategies, which include enhancing its proprietary technology platform, increasing geographic presence, fortifying distribution networks, and creating innovative credit solutions. Based in Bengaluru, Nivara Home Finance currently manages Rs 700 crore in assets across 68 branches in five Indian states.

(With inputs from agencies.)