Vistaar raises USD 50 million funding from DFC
The Bengaluru-based Vistaar, founded 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 Financial Services has secured USD 50 million funding from the US government's development finance institution, the International Development Finance Corporation (DFC).
The Bengaluru-based Vistaar, founded 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.
In May, the company had raised USD 40 million in equity from the global private equity major Warburg Pincus.
The DFC loan will help it expand its secured MSME lending portfolio, Avijit Saha, the chief executive said in a statement on Wednesday.
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.
The partners with the private sector to finance solutions and invest across sectors including energy, healthcare, critical infrastructure, and technology.
With the May 2023 equity investment, Warburg now holds a controlling stake in Vistaar.
Vistaar has more than 40,000 customers. Its average ticket size is about Rs 10 lakh and it covers business and housing loans.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
80% return in one year: Brokerage suggests buying this Maharatna PSU stock for 2-3 days, check target
Lok Sabha elections 2024 Phase 4: Voting date, timing, states, union territories, seats, key candidates and constituencies | LS Polls
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
HPCL dividend 2024: OMC Hindustan Petroleum Corporation announces Rs 16.50 dividend, check record date
04:13 PM IST