Creation Investments, a global alternative asset manager and impact investor in emerging markets, has made a $25 million equity investment in DD360, a financial and property technology platform that facilitates financing and management of residential real estate in Mexico. To date, DD360 has raised approximately $91 million in equity and will use the additional funding to support loan growth acceleration and product roll-out through the expansion of its technology platform offerings and software development team.
“We are thrilled to invest in a business that aligns with our thesis of high growth and profitability, while addressing numerous impact themes such as access to housing and job creation,” said Amadeo Ibarra, director and Mexico country head for Creation Investments. “We look forward to partnering with DD360’s management team to support its next phase of growth.”
Based in Chicago and with offices in Mexico City and Bangalore, India, Creation Investments manages more than $1.8 billion on behalf of institutional investors, family offices and high-net-worth individuals. Creation and its portfolio companies seek to improve the lives of those at the bottom of the economic pyramid in emerging markets.
“We are pleased to add Creation Investments as a shareholder to support our growth and roll-out of business-to-consumer mortgage and other product offerings,” said Jorge Combe, co-founder and CEO of Mexico City-based DD360. “With these resources, we will continue to expand our team and balance sheet while addressing the enormous deficit of housing in Mexico.”
DD360 manages a loan portfolio of more than US$230 million. The company has financed 120 real estate projects across Mexico and is growing rapidly in its business-to-consumer mortgage offering, supported by the launch of its digital mortgage origination platform Compa. DD360 has secured funding from leading commercial and development banks in Mexico and is in discussions with international banks to fund its business-to-business and business-to-consumer growth initiatives.
