India’s Vistaar Finance raises $30m ECB from Dutch development bank FMO

Photo: Reuters

Bengaluru-based MSME lender Vistaar Finance on Tuesday announced that it has raised $30 million (about Rs 225 crore) external commercial borrowing (ECB) from Dutch development bank FMO.

This is the second line of funding from FMO to the Bengaluru-based lender, which has now raised over Rs 550 crore of debt financing in just seven months of this financial year.

The funds will be deployed to lend small businesses across the country, the company said in a statement.

“This funding helps underline the core objectives of Vistaar and FMO of lending to small businesses to support their sustainable growth,” Vistaar Finance executive vice-chairman Brahmanad Hegde said.

“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,” he added.

Founded in 2010 by Hegde and Ramakrishna Nishtala, Vistaar is a non-deposit taking NBFC focussed on lending to small businesses through a network of 200-plus branches. It has raised almost $76 million in funding so far from several investors including Elevar Equity, Saama Capital, WestBridge Capital, and Omidyar Network India Advisors.

Vistaar has assets of close to Rs 2,000 crore under its management. Its lender base includes public sector banks, private sector banks, mutual funds, international development agencies and large financial institutions.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.