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Aptus Value Housing Finance raises Rs 880 crore

News Today 2019-09-11 15:34:01

Chennai: Chennai based affordable housing finance company, Aptus Value Housing Finance (Aptus) recently announced an equity fund-raise of Rs 880 crore. A press release said the Rs 880 crore equity raise was led by existing investor, WestBridge, with new investors Steadview Capital and Sequoia Capital and existing investor Malabar Investments. Aptus is promoted by financial services industry veteran, Anandan.

Commenting on the equity raise, Anandan said, “We are very happy to welcome Steadview and Sequoia and are grateful to our existing investors for their continued support and confidence reposed in Aptus.” The press release added, Aptus in 10 years has built a very strong franchise in affordable housing finance with a loan book of over Rs 2,650 crore, growing at a rate of over 60 per cent in the last five years. The company which provides home loans, improvement loans, and business loans to the underserved self-employed customers, has disbursed over Rs 3,500 crores worth of loans with significant presence in semi-urban, rural areas, the release said.