Vastu Housing Finance raises $200-M from Norwest Ventures, Creation Investments, others

Mumbai-based, affordable housing-focused lender Vastu Housing Finance has raised about USD 200 million from a consortium of investors led by Norwest Venture Partners, Creation Investments and IIFL Asset Management. The deal involves a combination of primary infusion and secondary sale. With the primary investment, Vastu will further consolidate operations in 13 states and build products to provide faster and affordable credit for the approximately 900 million population residing in these states. Vastu currently has a home loan book of around USD 400 million and over 1,200 employees. The home financier uses its own technology to assess creditworthiness of customers.