Bengaluru-based Vistaar Finance Secures $50 Million Funding from DFC
- ByStartupStory | August 3, 2023
Vistaar Finance, a Bengaluru-based company, has received $50 million in funding from the International Development Finance Corporation (DFC) to expand its secured MSME lending portfolio. The company has already funded over 2 lakh small businesses across 12 states and has a loan book of Rs 3,100 crore. In May, Warburg Pincus invested $40 million in equity, giving them a controlling stake in Vistaar. The DFC loan will further enable lending to small women-owned and -led enterprises, according to Avijit Saha, the CEO of Vistaar Finance.
In May, the company raised $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 capitalfor 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.
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