We invest in real estate and companies we believe in
We emphasize the development of new opportunities with long-term value creation as a guiding principle.
We invest in real estate
ALVA Capital Real Estate Development focuses on developing residential and commercial properties for short-term and long-term rentals. We have diverse real estate development projects in Iceland and the United States.
We invest in companies
ALVA Capital invests in companies either by providing them with growth capital or through innovation and investments in technology companies. We provide our companies with operational support and help them grow into market-leading companies.
Real Estate Investments
Alva Capital began to focus on real estate development and investments in real estate in 2020. The real estate portfolio that the company has built is unique in Iceland, where great emphasis is placed on well-located apartments and hotel rooms.
Today, the portfolio comprises over 200 rental units. The company specializes in short-term rentals to tourists but also uses part of the portfolio in long-term rentals to individuals.
Portfolio
ALVA Fasteignir, ALVA Hotels, ALVA Framkvæmdir and Inkasso are part of the ALVA Capital group.
ALVA Fasteignir
2020 – Present
ALVA Fasteignir owns and develops the group’s properties in Iceland. The portfolio comprises 19 properties and 10,583 m², with 190 units in operation and 90+ in development.
ALVA Hotels
2021 – Present
ALVA Hotels operates the group’s hotels and hotel apartments in Reykjavík, including Candlewood Suites Reykjavik, which is run under a franchise agreement with IHG Hotels & Resorts.
ALVA Framkvæmdir
2022 - Present
ALVA Framkvæmdir manages construction and development projects, mainly for the group’s own properties and also for outside clients.
Inkasso
2017 - Present
Inkasso is a financial technology company specialising in claims management and debt collection in Iceland.
ALVA Homes
2021 - Present
A portfolio of real estate investments in the United States.
Previous investments.
Some of our previous investments.
Moberg
2011–2021, sold to Kvika bank
Moberg is a software company headquartered in Zagreb, Croatia. Today, over 50 software experts work in the company.
Netgíró
2012-2021, sold to Kvika bank
Netgíró is a leading payment service provider in its field. Netgíró was founded to create safer and simpler purchases in stores and online.
Two Birds
2021, exit
A leading innovative company in the field of financial technology. The company develops new and user-friendly business solutions for individuals and companies in the real estate and financial market.
Aktiva
2019 - merged with Netgiro
Aktiva was a lending platform that connected borrowers and investors to save users from the high costs of traditional banking and thus reduce costs to consumers.
Heimkaup
2020 - sold to investors
Heimkaup is a company in the retail market and we employ a diverse group in various jobs. Heimkaup has been a leader in online sales in Iceland as well as in the operation of convenience stores, while Heimkaup operates Extra, 10-11 and three stores at Orkuna.
Mynta
2017 - merged with Inkasso
Mynta was a financial technology company that specialized in billing and claims management.
Hópkaup
2019 - sold to investors
Hópkaup.is is the largest discount site in Iceland and the first on the market. hópkaup.is has over 80,000 customers, almost 30% of the Icelandic population. The company aims to provide the best service with 100% security.
Bland
2017 - sold to investors
Bland is the largest online market in Iceland, with over 200 thousand users. On Bland, anyone can buy and sell anything; there is also an active discussion board. Blað has been one of the biggest web portals in Iceland since 2000.
Gamestöðin
Exit 2014
The space station is the video gamer’s specialty store! They buy your old games, and you use the money to lower the cost of new video games! The space station was founded on June 21, 2008, and the first store was in Skeifun.
Skífan
Exit 2014
Skífan was one of Iceland’s most popular and famous record labels and record stores. They sold music albums of all types, DVDs, and video games. The company was founded in 1975 and was 40 years old when it closed its stores and merged with Heimkaupi.
Mói Media
Exit 2016
Mói was one of the most extensive news and entertainment media in Iceland and had, among others, the following websites: Hun.is, 433.is, Sport.is, Bland.is, Isinfront.is, FlickMyLife.is and Nudemagazine.is. Móa’s goal was to guarantee users access to the most popular and best entertainment content on the Internet at all times.
News
Below, you can view news about us from various news media outlets over the years. Links to the original news are below each news.
ALVA Capital and IHG sign landmark agreement: Open first IHG hotel in Iceland and develop 500 rooms in the coming years
Valhöll sold
ALVA Capital and IHG sign landmark agreement: Open first IHG hotel in Iceland and develop 500 rooms in the coming years
820 million purchase in the city center
The number of rooms will increase at the Hill Hotel.
About us
The investment company ALVA Capital was founded in 2012, and the company’s primary focus is investing in the development and operation of real estate. We plan big things in real estate development in the coming seasons, but Alva Capital is a leading investment company in technology and financial technology. We have founded some of the top companies and have operations in several countries.
We launched our real estate investment strategy in 2020, using a data-driven approach to investing and developing short- and long-term rental units.
Leadership
Steinunn Ragna Hjartar
CFO & COO
Steinunn Ragna Hjartar is the CFO and COO of ALVA Capital. She has extensive experience in finance and business leadership, having previously served as CEO of Sena and CFO of Wise. With a strong background in financial strategy, corporate governance and operations, Steinunn oversees the group's financial management and operations, supporting its continued growth and development.
Skorri Rafn Rafnsson
CEO
Skorri Rafn Rafnsson is the founder and CEO of ALVA Capital. He has founded and led a number of companies, including Inkasso, Netgiro, Moberg, Heimkaup, Hópkaup and Bland, and has held both CEO and Chairman positions. Skorri has extensive experience in the fields of fintech, software and e-commerce, and is known for transforming startups into successful, global companies.
Board of Directors
Guðmundur Magnason
Board Member
Guðmundur Magnason is a member of the Board of Directors of ALVA Capital and Managing Director of Inkasso. He has extensive experience in business leadership, having previously served as CEO of Heimkaup from 2014 to 2020 and Managing Director of LazyTown from 2008 until its acquisition by Turner Broadcasting in 2014. His background spans business development, strategic management and operations.
Borghildur Ágústsdóttir
Board Member
Borghildur Ágústsdóttir is a member of the Board of Directors of ALVA Capital and Finance and Operations Manager at Inkasso. She has extensive experience in financial management and business operations, having previously served as Finance Director of Icelandair Hotels for 12 years. Her background includes financial strategy, corporate management and operational leadership.
Social Responsibility
ALVA Capital takes social responsibility seriously and has long supported humanitarian work. Among other things, we have helped children living in poverty.
ALVA Capital has been a proud sponsor of ABC Children’s Aid since 2018. But ABC Children’s Aid supports children in Burkina Faso to attend school with tuition, books, stationery, school uniforms, meals, and health care.
ALVA Capital will continue to support ABC Children’s Aid proudly.
English 
Íslenska