Vistaar Finance raises $ 27.4 Million from WestBridge

CoolAvenues Newswire | May 28,2014 03:17 pm IST

Vistaar Finance which provides finance for small to medium sized businesses has raised Series C round of $ 27.4 Million funding from WestBridge along with the existing investors, Elevar Capital, Saama Capital and Omidyar Network .

The company had raised $ 13 Million is two rounds of funding from Elevar Equity, Omidyar Network, Lok Capital and Saama Capital in 2010 and 2011. The company will use the funds to expand its branch network to over 250 centres over the next four years with a projected portfolio of over Rs 2,500 crore.

Vistaar Finance a Bangalore based NBFC was started by Brahmanad Hegde and Ramakrishna Nishtala in April 2010. The company has built a customer base of 23,600 borrowers across 74 branches in Karnataka, Tamil Nadu, Maharashtra and Gujarat. The company targets the underserved middle segment, consisting of customers with an annual income between Rs. 120,000 to Rs.1,000,000. The company provides finance at a reasonable cost in a transparent manner.



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