Aptus Value HFC raises Rs 880 in equity capital

Chennai- based 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 Stead view Capital, Sequoia Capital India and Malabar Investments.

In the year of 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.

The housing finance firm was founded by financial services veteran M Anandan, who had held various executive positions with the financial services businesses of Chennai-based sugar-tobicycle conglomerate Murugappa group.

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.

Aptus Value 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.