AURORA RUSSIA LIMITED said that it would invest more in the KREDITMART company. AURORA RUSSIA LIMITED, the investment fund established to invest in dynamically developing private companies in Russia, is to invest 10 million pounds in addition to 12.5m invested in the company when it was being established. KREDITMART specialises in selecting mortgage programs and providing credits using real estate as collateral via bank partners. It is also involved in other programs for financial products and services for individuals. The AURORA RUSSIA investment fund holds 100% of the charter capital. The first sales unit opened in Moscow in March 2007 and the other office began operations in St. Petersburg in August. An additional two units will be launched in Omsk and Novosibirsk in October this year. More than $10 million credits were provided under KREDITMART standards.
Source: ROSINVEST.COM, September 28, 2007
