MICROCAPITAL BRIEF: Creation, Norwest, IIFL Place $200m in Equity in Vastu Platform Offering Housing Loans via Alternative Credit Scoring in India

Two US-based firms, Creation Investments and Norwest Venture Partners, recently co-led a Series C financing round of USD 200 million for Vastu Housing Finance of India. Each investor committed USD 75 million to Vastu, with India’s IIFL Finance investing the remaining USD 50 million. Vastu plans to use the financing to