Bengaluru-based Vistaar Financial Services Raises USD 50 Million from the US Government's DFC
The Bengaluru-based Vistaar, developed by Brahmanand Hegde and Ramakrishna Nishtala in 2010, has so far funded over 2 lakh small businesses across 12 states since inception and has a loan book of Rs 3,100 crore. Vistaar has more than 40,000 customers. Its average ticket size is about Rs 10 lakh, and it covers business and housing loans.
Vistaar Financial Services has secured USD 50 million in funding from the US government’s development finance institution, the International Development Finance Corporation (DFC). In May, the company raised USD 40 million in equity from the global private equity firm Warburg Pincus. With the May 2023 equity investment, Warburg now holds a controlling stake in Vistaar.
The DFC loan will help it expand its secured MSME lending portfolio, Avijit Saha, the chief executive, said in a statement. The loan will expand access to capital for lending to small women-owned and -led enterprises, said James Polan, vice president of DFC’s office of development credit.
Vistaar Financial Services has secured USD 50 million in funding from the US government’s development finance institution, the International Development Finance Corporation (DFC). In May, the company raised USD 40 million in equity from the global private equity firm Warburg Pincus. With the May 2023 equity investment, Warburg now holds a controlling stake in Vistaar.
The DFC loan will help it expand its secured MSME lending portfolio, Avijit Saha, the chief executive, said in a statement. The loan will expand access to capital for lending to small women-owned and -led enterprises, said James Polan, vice president of DFC’s office of development credit.
.jpg "Innovating Legal Solutions to Safeguard your Business")
.jpg "DataviCloud : Real-Time Intelligence for Better Decisions across Every Business Function")
