Vastu Housing Finance Corporation Ltd., an Indian housing finance company, raised US$200m in Series C financing.
Creation Investments Capital Management LLC, and Norwest Venture Partners, co-led the round with each investing US$75m in the company. Mumbai-based IIFL Finance is investing US$50m.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Sandeep Menon, founder, managing director and CEO, Vastu provides a proprietary technology platform called PULSE to allow customers – self-employed individuals and small-business owners – to estimate and demonstrate their undocumented income to access credit solutions. As of July 2021, the company provided financial assistance to more than 35,000 customers.
FinSMEs
02/11/2021