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Affordable housing finance firm Aptus raises Rs 880 crore

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Chennai-headquartered affordable housing finance company Aptus Value Housing Finance has said it has raised Rs 880 crore in equity capital in its Series B round led by existing investor WestBridge and new participants Steadview Capital, Sequoia Capital India and Malabar Investments.

In 2016, Aptus had raised its Series A round of around Rs 270 crore led by WestBridge.

Aptus finds the market for funding self-employes persons and individuals in the ticket-size of Rs 5-25 lakh as an attractive market, and will channel the latest round to go deeper in the market. Aptus Value was founded by financial services veteran M Anandan, who had held various executive positions with the financial services businesses of Chennai-based sugar-to-bicycle conglomerate Murugappa group.

On the equity raise, Anandan said: “With a set of marquee investors, we are well capitalised to build on the strong base and expect to grow our loan book at 60+ % CAGR over 3 years.” Over a decade, Aptus has built a loan book of over Rs 2650 crore. The Company which provides home loans, improvement loans, and business loans to the underserved self-employed customers, has disbursed over Rs 3500 crore worth of loans with significant presence in semi urban, rural areas, according to a release.

The Company has over 40000 customers being serviced through its 165 branches in four South Indian states.

It targets to achieve a loan book of Rs 9,000 crore by end of FY22




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Category: Stock Market


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