multi-supported Vastu Housing Finance a. raising nearly $200 million from investors’ association Led by Norwest Venture Partners, Creation Investments and IIFL Asset Management amid signs of low-cost revival Accommodation Section. This is considered to be the largest transaction in the affordable housing sector for any private equity growth investment.

The proposed fund investment is through a combination of primary and secondary sales.

Sandeep Menon, Founder, MD and CEO, Vastu Housing Finance said, “With this investment, Vastu will further strengthen operations in 13 states and products to provide fast and affordable credit to the nearly 900 million population residing in these states. will build.”

Vastu was founded in 2015 by Sandeep Menon and Sujay Patil, with Multiple Alternate Asset Management (MultiPulse) being the largest institutional investor.

The home financier uses its technology to assess the creditworthiness of customers across the country.

Vastu is a digitally enabled retail affordable housing finance company with a All-India Presence. It has a home loan book of approximately $400 million with over 1,200 employees. Much of its asset growth has been credit tested and has faced severe stress events such as the pandemic over the past two years.

Vastu has an in-house proprietary technology platform named as Pulse, which paves the way for a paperless digital experience and rapid transformation for the customers.

“We also take great satisfaction in the contribution of Vastu towards an inclusive construction” IndiaNiren Shah, Head, Managing Director, Norwest Venture Partners India said.

Norwest is a leading, multi-tiered investment firm managing approximately $10 billion of funds globally. It has an equal stake with Creation Investments in the latest round of fundraising in Vastu, which aims to become a diversified consumer lender catering to all credit needs of medium and aspirational India.

Vastu has also set up a Non-Banking Finance Company (NBFC) – Vastu Finserve, which ventures into vehicle and MSME finance.

Sudhir Variyar, MD & Deputy CEO, Multiple Alternate Asset Management, said, “By the speed to scale, underwriting quality and profitability that Vastu has delivered, it is one of the best retail financial services companies in India today.”

Vastu Home Finance has a diversified liability franchise comprising over 37 lenders and institutional investors.