Arkfin Investments Invest Around USD 2 Million (INR 15.5 Crores) in Akme Star Housing Finance Company
Thursday, October 31, 2019: Arkfin Investments Private Limited (ARKFIN) a financial services group founded and managed by professionals having rich experience in the fields of Housing Finance, NBFC, Banking, Insurance and allied services announced an equity capital investment of around USD 2 million (INR 15.5 Crores) in Akme Star Housing Finance Limited (Akme Star HFC)ARKFIN group is capitalized by financial professionals subscribing to the share capital of the company, thereby making it a unique set up and bringing ownership at the outset. The Group is run professionally by the members and well-governed by the Board.
Akme Star HFC is a BSE listed
Housing Finance Company operational in lower-and-middle income customer segment in Rajasthan since 2009.
Speaking on the occasion, Mr. Ashish Jain, Managing Director, Akme Star HFC said, “Extremely happy to have ARKFIN as a strategic partner to align with our vision to expand our presence in different markets of India alongside building a quality loan book, on boarding of quality manpower and deployment of technological platforms aided by mobile applications. ARKFIN brings a unique proposition of domain in business, technology and risk. We are happy to have Mr. Anil Sachidanand, a veteran in the retail housing finance sector to be a mentor in our journey.”
He further added that Akme Star HFC is adding footprints in Indore, Pune, Mumbai, and Chennai markets and will soon roll out its products and services targeting the first time home buyers purchasing own homes in projects qualifying under Pradhan Mantri Awas Yojana (PMAY).
“ARKFIN has infused over $2 million in Akme Star HFC as a part of its strategy to engage in Indian home finance space. Semi-Urban/Rural housing story of India is still at a nascent stage. Nuclearization of families and rapid urbanization continues to increase the demand for housing units in these geographies. Akme Star HFC, with its risk framework and strong vintage in these markets, is well poised to cater to similar geographies in newer states as it scales up its business”, says Mr. Balraj Dubey, Director, Arkfin Investments Private Limited.
Speaking on the occasion, Mr. Ashish Jain, Managing Director, Akme Star HFC said, “Extremely happy to have ARKFIN as a strategic partner to align with our vision to expand our presence in different markets of India alongside building a quality loan book, on boarding of quality manpower and deployment of technological platforms aided by mobile applications. ARKFIN brings a unique proposition of domain in business, technology and risk. We are happy to have Mr. Anil Sachidanand, a veteran in the retail housing finance sector to be a mentor in our journey.”
He further added that Akme Star HFC is adding footprints in Indore, Pune, Mumbai, and Chennai markets and will soon roll out its products and services targeting the first time home buyers purchasing own homes in projects qualifying under Pradhan Mantri Awas Yojana (PMAY).
“ARKFIN has infused over $2 million in Akme Star HFC as a part of its strategy to engage in Indian home finance space. Semi-Urban/Rural housing story of India is still at a nascent stage. Nuclearization of families and rapid urbanization continues to increase the demand for housing units in these geographies. Akme Star HFC, with its risk framework and strong vintage in these markets, is well poised to cater to similar geographies in newer states as it scales up its business”, says Mr. Balraj Dubey, Director, Arkfin Investments Private Limited.
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