Vastu Housing Finance Corporation Ltd has raised $200 million (around ₹1,460 crore) in a financing round from a consortium led by Norwest Venture Partners, Creation Investments, and IIFL Asset Management, the company said on Friday. Vastu, set up in 2015 by Menon and Sujay Patil, is a digitally-enabled retail affordable housing finance company with a pan-India presence. The company also set up a non-banking finance company (NBFC) – Vastu Finserve -- venturing into vehicle and MSME finance. Norwest Venture Partners is a multi-stage investment firm that manages $9.5 billion in capital and has funded more than 600 companies since its inception. In India, Norwest Venture Partners makes early to mid-stage venture capital investments and growth investments in companies.

Source: Mint October 29, 2021 18:08 UTC