Vastu Housing Finance Revenue, Valuation, Funding & Investors

Vastu Housing Finance is valued at $1.2B as of December 2024, a 91.6x multiple on its last reported $13M revenue.

Last Vastu Housing Finance valuation

$1.2B

Undisclosed stage · Dec 2024

Last Vastu Housing Finance funding round

$100M

Undisclosed stage · Dec 2024

Vastu Housing Finance revenue

$13M

Undisclosed stage · Dec 2024

Key investors in Vastu Housing Finance

  • Norwest
  • 360 ONE Asset
  • Creation Investments Capital Management, LLC
  • International Finance Corporation
  • Prosus Ventures
  • TA Associates

Vastu Housing Finance Overview

About Vastu Housing Finance

Vastu Housing Finance Corporation Ltd is a National Housing Bank-registered housing finance company in India targeting affordable housing and low-income segments. The firm provides loans for home purchase, construction, extensions, property-backed financing, and builder funding to self-employed borrowers. Headquartered in Mumbai, Vastu Housing operates primarily in western and southern India, emphasizing socially relevant credit for residential and commercial needs.


Founded

2015

HQ

IndiaMumbai

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$13M (Dec 2024)

Valuation

$1.2B (Dec 2024)

Vastu Housing Finance Valuation

Vastu Housing Finance is currently valued at $1.2B, based on its undisclosed-stage round in December 2024.

The $100M round was led by Prosus Ventures.

Vastu Housing Finance's valuation has grown 1.5x from $784M at its secondary sale in October 2021 to $1.2B in December 2024, across 4 priced rounds.

Vastu Housing Finance valuation by funding round

Revenue multiple
Vastu Housing Finance valuation by funding round
DateStageValuationRevenue Multiple
Dec 2024Undisclosed stage$1.2B91.6x
Jul 2024Secondary$1.1B8.3x
Jul 2024Undisclosed stage$1.4B10.4x
Oct 2021Secondary$784M9.6x

Vastu Housing Finance Revenue

Vastu Housing Finance's latest recorded revenue is $13M, as of its undisclosed-stage round in December 2024. At a $1.2B valuation, that implies a 91.6x revenue multiple.

Revenue moved from $82M in October 2021 to $13M in December 2024, while the revenue multiple moved from 9.6x to 91.6x.

Vastu Housing Finance revenue by funding round

Vastu Housing Finance revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Dec 2024$13M$1.2B91.6xUndisclosed stage
Jul 2024$129M$1.1B8.3xSecondary
Jul 2024$134M$1.4B10.4xUndisclosed stage
Oct 2021$82M$784M9.6xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Vastu Housing Finance Funding History

Vastu Housing Finance has raised a total of $246M across 3 funding rounds, plus 3 secondary share sales.

Vastu Housing Finance's first fundraising round was a $71M undisclosed-stage round in October 2021. The most recent completed round was a $100M undisclosed-stage round in December 2024.

Vastu Housing Finance funding rounds

Vastu Housing Finance funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024Undisclosed stageProsus Ventures (lead)$100M$1.2BVastu Housing Finance is an Indian housing finance company focused on affordable housing loans for low-income, self-employed segments, and women borrowers, operating 206 branches across 14 states with over 4,500 employees. In October 2024, Prosus Ventures (via Naspers Ventures B.V.) invested approximately $100 million to acquire an 8.4% effective stake (7.8% fully diluted), treated as an equity-accounted associate due to board influence; this secondary deal valued the company at $1.4 billion. The investment followed CCI approval in September 2024 and came after a prior undisclosed growth round from TA Associates (likely ~$400M at >$1.4B valuation in July 2024) and a $50M ECB loan from USDFC. Financially, Vastu reported consolidated revenue of Rs 1,255 crore in FY24 (up 63% YoY), consolidated PAT of Rs 361 crore (up 26.6%), group AUM of Rs 9,137 crore (up from Rs 6,097 crore YoY), and standalone AUM of Rs 1,717 crore as of March 31, 2024. Earlier, in 2023, it raised $30M in a secondary sale to Faering Capital from Multiples and others. Total funding across rounds exceeds $800M from 9 investors including IFC and TA Associates. The Prosus deal reflects growing investor interest in India's housing finance sector amid rising VC activity, with October 2024 seeing $4.7B in PE/VC investments. Vastu continues expanding credit access in Tier II-IV towns, leveraging long-term debt like the 20-year USDFC loan for low-income housing.
Jul 2024SecondaryTA Associates (lead); International Finance Corporation$400M$1.1BVastu Housing Finance, founded in 2015 by Sandeep Menon and Sujay Patil, provides affordable housing finance, small business loans, and vehicle finance to self-employed customers in semi-urban and rural India using proprietary technology and underwriting. The company operates over 230 branches across 13 states with a loan book of ₹10,000 crore as of FY24-end. On July 11, 2024, TA Associates led a strategic growth investment alongside the International Finance Corporation, acquiring a secondary stake for ₹3,340 crore ($400 million), valuing Vastu at ₹10,000 crore, with an additional $75 million primary capital infusion. The transaction provided a partial exit to existing investor Multiples Alternate Asset Management, which has backed Vastu since inception alongside Norwest Venture Partners, Creation Investments, 360 ONE Asset Management, and Faering Capital. Vastu's investor base expanded with IFC's prior investment in December 2023. In FY2024, Vastu reported revenue of $128.68 million and EBITDA of $109.54 million, primarily from interest income on long-term loans. Vastu has raised over $800 million across multiple rounds, including a $100 million Series D-II in September 2024 and a $100 million investment from Prosus acquiring an 8.4% stake in December 2024. The company serves low-income groups, emphasizing women borrowers, with assets under management reaching $1.14 billion by late 2024.
Jul 2024Undisclosed stage-$75M$1.4BVastu Housing Finance Corporation Limited, founded in 2015 by Sandeep Menon and Sujay Patil, is a Mumbai-based housing finance company targeting affordable housing loans for underserved low-income customers in India, operating over 230 branches across 13-14 states with a technology platform PULSE for undocumented income assessment and paperless lending. The company has impacted over 22,000 customers, primarily those earning around $600 monthly, and employs over 1,000 professionals. In July 2024, Vastu closed an undisclosed growth investment from TA Associates, reportedly around $400 million at a valuation upwards of $1.4 billion. This was followed in October 2024 by Prosus acquiring an 8.4% effective stake (7.8% fully diluted) for approximately $100 million, confirming the $1.4 billion valuation in a secondary deal involving sellers like Multiples PE and Plenty Private Equity to buyers including TA, Norwest, Creation Investments, 360 ONE, and Prosus totaling INR24.47 billion ($244 million). Additional debt funding included a $50 million loan from USDFC in September 2024. Financially, as of March 31, 2024, standalone AUM reached Rs 1,717 crore (up from Rs 803 crore YoY), while group AUM grew to Rs 9,137 crore from Rs 6,097 crore, supported by 206 branches. Consolidated revenue surged 63% to Rs 1,255 crore in FY24, with profit after tax up 26.6% to Rs 361 crore. The affordable housing finance sector in India has attracted strong investor interest, with competitors like Easy Home Finance, Basic Home Loan, and Vridhi Home Finance raising over $80 million since September 2024. Vastu's funding aligns with broader growth, including prior $30 million secondary sale to Faering Capital and total raised exceeding $800 million across rounds, positioning it as a leader backed by investors like IFC, Prosus Ventures, and TA Associates.
Oct 2023SecondaryFaering Capital (lead)$30M-Vastu Housing Finance Corporation Limited is a digitally-enabled affordable housing finance company operating across 15 states in India. The company has established lending relationships with more than 40 public and private sector banks and financial institutions, including the National Housing Bank, State Bank of India, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Union Bank, and HSBC. In October 2023, Faering Capital completed a $30 million secondary investment in Vastu Housing Finance by purchasing shares from existing shareholders including Multiples Alternate Asset Management. This was a secondary transaction rather than a primary capital raise. As of the transaction period, Vastu Housing Finance maintained an assets under management (AUM) of $900 million and served over 80,000 customers with monthly incomes of approximately $500 who lack formal access to credit. The company recorded a Profit after Tax of Rs 285 crore in FY23 (ending March 2023), demonstrating profitability in the affordable housing finance segment.
Oct 2021Secondary360 ONE Asset (lead); Creation Investments Capital Management, LLC (lead); Norwest (lead); Mountaineer Capital LLC$71M$784MVastu Housing Finance Corporation Limited provides housing loans to low- and middle-income families in India's affordable housing segment, operating across 13 states with over 100 branches and a technology platform called PULSE for paperless processing. In October 2021, Vastu raised approximately $200 million in primary equity from a consortium led by Norwest Venture Partners, Creation Investments, and IIFL Asset Management (now 360 ONE Asset), including a secondary sale providing partial liquidity to early investors like Multiples. The transaction valued the company at $784 million USD. At the time, Vastu's assets under management stood at around $400 million, with an average loan ticket size of about $16,000, serving over 30,000 customers, and 99% of loans listing women as borrower or co-borrower. The company had grown its AUM nearly 400 times since 2015, supported by diversified funding from over 30 lenders, and maintained strong asset quality with ICRA ratings of A+ and A1+.
Oct 2021Undisclosed stage360 ONE Asset (lead); Creation Investments Capital Management, LLC (lead); Norwest (lead)$71M-Vastu Housing Finance Corporation Limited raised approximately $200 million in equity funding on October 29, 2021, from a consortium led by Norwest Venture Partners, Creation Investments, and IIFL Asset Management (now 360 ONE Asset Management), marking the largest private equity investment in India's affordable housing sector at that time. The round included a secondary sale by existing investors and supported Vastu's expansion in affordable housing finance, with a technology platform called PULSE enabling paperless processes. At the time, Vastu had grown to an AUM of about $400 million, operating in 13 states across 100 markets with over 1,200 employees, and recently received upgraded credit ratings from ICRA to A+ (long-term) and A1+ (short-term). Vastu focuses on home loans and construction financing for underserved markets in India, emphasizing strong credit underwriting and data analytics. Investors highlighted Vastu's balanced growth, risk management, and potential in adjacent segments like vehicle finance and unsecured business lending. Creation Investments noted it as their largest investment to date, while IIFL praised the technological processes and robust liabilities management. Later developments include a FY24 equity raise of ₹621.22 crore from IFC and existing investors including 360 ONE, Norwest, and Creation, with consolidated total income at ₹1,255 crore and PAT at ₹361 crore for FY24, alongside AUM growth to ₹9,339 crore (adjusted total assets). Subsequent investments, such as a $400 million deal by TA Associates valuing Vastu at over $1.4 billion, occurred later and are unrelated to the 2021 round.

Who has invested in Vastu Housing Finance?

8 investors have backed Vastu Housing Finance across its funding rounds, including Norwest, 360 ONE Asset, Creation Investments Capital Management, LLC, International Finance Corporation, Prosus Ventures and TA Associates.

Lead investors include Prosus Ventures, TA Associates, Faering Capital, 360 ONE Asset, Creation Investments Capital Management, LLC and 1 other investor.


Vastu Housing Finance Investors

Investors in Vastu Housing Finance by funding rounds participated
InvestorHQRoundsRoleFirst check
Creation Investments Capital Management, LLCUnited StatesChicago, IL2LeadOct 2021
NorwestUnited StatesSan Francisco, CA2LeadOct 2021
360 ONE AssetIndiaIndia2LeadOct 2021
Mountaineer Capital LLCUnited StatesSeattle, WA1ParticipantOct 2021
Faering CapitalIndiaMumbai1LeadOct 2023
TA AssociatesUnited StatesBoston, MA1LeadJul 2024

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Vastu Housing Finance Competitors

Vastu Housing Finance competitors include listed companies like Walker & Dunlop and Centuria Capital, and private ones like Willow Wealth, Valon Technologies, Nesto and Avenue One.

Public and private companies comparable to Vastu Housing Finance
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Willow WealthUnited StatesNew York City, NYPrivate$100M-$1.3B-
Valon TechnologiesUnited StatesNew York City, NYPrivate$100M-$1.1B11.0x
Walker & DunlopUnited StatesUnited StatesPublicly listed$1.2B$318M$1.3B2.6x
NestoCanadaMontrealPrivate$300M-$1.1B3.5x
Avenue OneUnited StatesNew York City, NYPrivate--$1B-
Centuria CapitalAustraliaAustraliaPublicly listed$44M-$903M5.4x

Vastu Housing Finance Public Comps

Vastu Housing Finance is still privately-owned, but its public comps include Walker & Dunlop, Centuria Capital, RFA Financial, MFA Financial, Ellington Financial, IndiGrid Infrastructure, Deutsche Pfandbriefbank, Enity Holding, SHL Finance and Eqdom.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Walker & Dunlop$1.2B$318M2.7x2.6x10.6x12.7x
Centuria Capital$44M-27.5x5.4x-9.0x
RFA Financial$172M($66M)8.4x-(21.9x)-
MFA Financial$299M-24.2x30.2x--
Ellington Financial$641M-31.4x43.2x--
IndiGrid Infrastructure$497M$338M7.6x8.7x11.2x9.7x
Deutsche Pfandbriefbank$481M-1.1x1.2x--
Enity Holding$133M-8.2x6.7x--

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Common questions about Vastu Housing Finance

When was Vastu Housing Finance founded?Vastu Housing Finance was founded in 2015.
Where is Vastu Housing Finance headquartered?Vastu Housing Finance is headquartered in Mumbai, India.
Is Vastu Housing Finance publicly listed?No, Vastu Housing Finance is a private, VC-backed company.
What is Vastu Housing Finance's valuation?Vastu Housing Finance was last valued at $1.2B in its undisclosed-stage round in December 2024.
How much funding has Vastu Housing Finance raised?Vastu Housing Finance has raised $246M across 3 funding rounds.
What was Vastu Housing Finance's last funding round?Vastu Housing Finance's last funding round was a $100M undisclosed-stage round in December 2024, led by Prosus Ventures.
Who are Vastu Housing Finance's investors?Vastu Housing Finance's investors include Creation Investments Capital Management, LLC, Norwest, 360 ONE Asset, Mountaineer Capital LLC, Faering Capital, TA Associates, International Finance Corporation and Prosus Ventures.
What is Vastu Housing Finance's revenue?Vastu Housing Finance's latest recorded revenue is $13M (December 2024).
What is Vastu Housing Finance's revenue multiple?Vastu Housing Finance's latest valuation implies a 91.6x revenue multiple ($1.2B valuation on $13M of revenue).
Which companies are comparable to Vastu Housing Finance?Companies comparable to Vastu Housing Finance include Willow Wealth, Valon Technologies, Walker & Dunlop, Nesto, Avenue One and Centuria Capital.

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