Earnnest.me a digital neo-financing platform of Certus Capital has invested Rs. 40 crore in an advanced stage mid-market residential project being developed by Pune-based real estate development firm Pharande Spaces.
The investment with Pharande Spaces is a part of Certus Capital’s strategy to deploy about Rs.500 crore in FY22-23 in senior secured real estate credit deal through Earnnest.me. The platform is also in the process of evaluating several other transactions and is targeting to close at least two more deals next quarter. The transactions will spread across Tier 1 markets like Mumbai, Pune, Chennai, Bengaluru, Hyderabad and NCR.
Earlier, Earnnest.me has invested Rs.40 crore in a Chennai-based real estate company Arun Excello’s portfolio of four affordable housing projects. A diversified profile of investors including bankers, financial services professionals, lawyers, chartered accountants, high-net worth investors, etc. participated through Earnnest.me in the Chennai opportunity. As a part of its strategy, Certus Capital takes up 10-15 per cent of every investment to ensure its presence throughout the investment cycle.
Certus has further strengthened its leadership team by adding seven members and middle and senior levels. These include ex-Piramal Capital executive Gaurav Bhalla as Director and ex-Deloitte India executive Siddharth Pal as Senior Vice President. Gaurav has over 20 years of experience in the financial services industry with expertise in fundraising and financial product distribution whereas Siddharth brings to the table resourceful advisory, fundraising and debt restructuring experience in real estate and BFSI sectors.
