Vistaar Finance has raised Rs. 225 crore (US$ 30 million) External Commercial Borrowing (ECB) from FMO, the Dutch entrepreneurial development bank, making this amongst the larger such transactions in the MSME segment this year.
Vistaar has now raised over Rs. 550 crore of debt financing in seven months of this financial year. These funds will be deployed to lend to small businesses across the country. This is the second line of funding from FMO to Vistaar.
Mr. Brahmanad Hegde, Executive Vice Chairman said, “This funding helps underline the core objectives of Vistaar & FMO of lending to small businesses to support their sustainable growth. Onward lending of these funds to small businesses contributes directly to Government of India initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat’. This fundraising is a strong endorsement of Vistaar’s sustainable business model, risk management capabilities even during a pandemic, its ability to grow in the current challenging and critical times, as well as strong shareholding.”
Vistaar is a Bengaluru based non-deposit-taking-NBFC focussed on lending to small businesses through a network of 200 plus branches. It pioneered lending to small businesses using its credit methodology over 10 years ago.
Vistaar has assets under management of close to Rs. 2,000 crores, a board of directors led by Independent directors and investors. Its lender base includes public sector banks, private sector banks, mutual funds, international developmental agencies and large financial institutions.
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.