Prosus Allocates USD 100 Mn to Vastu Housing and USD 80 Mn to Mintifi Prosus acquired an 8.4% stake in Vastu Housing Finance and a 10.65% stake in Mintifi.
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Vastu Housing Finance, a prominent player in the affordable housing sector, has raised USD 100 million from Amsterdam-based global consumer internet group Prosus. The investment grants Prosus an 8.4% stake in the company.
Founded in 2015 by Sandeep Menon and Sujay Patil, Vastu Housing has established itself as a key player in providing housing finance solutions to underserved communities. The company claims to operate over 230 branches across 13 states, focusing on making affordable housing accessible to a broader audience.
"In October 2024, the group acquired an 8.4% effective (7.8% fully diluted) interest for approximately USD 100 million in Vastu Housing Financing Corporate Limited (Vastu). Vastu is a housing finance company in India," the company said in a statement.
"The group will account for this investment as an equity-accounted associate on account of its significant influence on the board of directors," the statement added.
This funding follows a series of notable financial milestones for Vastu, including a USD 50 million loan from the United States International Development Finance Corporation (USDFC) in September and an undisclosed round from global private equity firm TA in July.
The affordable housing finance sector has seen increased investor interest recently. Competitors such as Easy Home Finance, Basic Home Loan, and Vridhi Home Finance have collectively raised over USD 80 million in funding rounds since September.
Alongside the Vastu investment, Prosus also expanded its fintech investments in India, acquiring a 10.65% stake in Mintifi, a B2B supply chain finance platform, for USD 79.9 million at a USD 750 million valuation.
Launched by Anup Agarwal, Ankit Mehta, and Sanjoy Shome, Mintifi, which supports SMEs with payment, invoicing, and financing solutions, had previously raised USD 170 million, including a USD 110 million Series D round in 2023.
