Vistaar Financial Services is striving to create financial inclusion for the ‘missing middle’, typically family businesses run by entrepreneurs who deal with cash. So far, it has disbursed Rs. 1,100 crore in loans to over a lakh customers through 200 centres across India.When Brahmanand Hedge and Ramakrishna Nishtala founded Vistaar Financial Services in 2010, their goal was not to find a spot in India’s already cluttered fintech space, but to strive towards financial inclusion, particularly among businesses that operated in the MSME (Micro, Small and Medium Enterprises segment. Think Kirana store, a power loom or a brick kiln.Read More +
But short-term impact could be mixed for different segments and businesses
Vistaar Finance is a Non- Banking Finance Company (NBFC), based out of Bengaluru, India, serving the MSME segment, primarily in rural and semi-urban areas. We believe that by supporting and creating new economic opportunities for deserving small business women and men, lives can be enriched and communities can be transformed.The company focuses on the missing middle segment, which is not effectively served by the formal financial system. The objective is to make finance available at a reasonable cost and deliver in a transparent manner. In the process, Vistaar aims to continuously attract mainstream capital and human resources to serve these chosen segments who are the backbone of India’s vibrant economy.
Many more start-ups fail than succeed in today’s business environment. Consequently, the CFO’s role in such companies varies from that in a more established one. Specifically, it is about addressing a wide range of issues: capitalising the company whenever possible, mitigating risk at every stage, planning and forecasting with great rigour, and continuously enhancing the trust of investors. Sudesh Chinchewadi, CFO of Vistaar Financial Services and this year’s winner of IMA’s India CFO Award for ‘Excellence in Finance in a Start-up’ is a particularly fine example of how one can build a successful company from scratch.Read More +
Vistaar Financial Services, an MSME-focused financing firm, today said it has appointed former Sebi chief C B Bhave as non-executive Chairman and Independent Director.
Bhave was the Chairman of Securities and Exchange Board of India (Sebi) for a period of three years during 2008-11, prior to which he was the Chairman and Managing Director of National Securities Depositories Ltd (NSDL).Read More +
Six Learnings on Innovation from Six Industries From the event “India’s National Competitiveness Forum and Porter Prize”.
“Strategy is not about boardroom meetings and macroeconomic conditions but should include more specific about what customers will actually need. What does Unified Payment Interface, Aadhar info integration online and all this digital disruption mean to a small businessman in a village who will go to a local bank branch 23 times only to get a rejection?” – Vistaar Finance Managing DirectorRead More +
Mint- Institute for Competitiveness Strategy Award in the ‘Finance Banking and Insurance’ category -2016
The Mint-Institute for Competitiveness Strategy awards annually recognise and honour the best companies operating in India that via their strong strategy have created their own niche.Read More +
Message from Mr. Brahmanand Hegde, Executive Vice Chairman & Mr. Ramakrishna Nishtala, MD & CEO
Six years and five months after we started, we have reached this significant milestone of Rs. 1,000 Crores Portfolio. At this scale, we can take satisfaction from the fact that we have clearly transitioned from the startup to the growth phase of our Company. We had a dream of being the preferred specialised financial services provider focusing on the underserved small businesses and are firmly on the track of fulfilling it. More importantly, we are heartened to see that many more financial institutions are now viewing the small business segment as a viable one to lend to. Indeed, the Reserve Bank of India has actually created a whole new specialised category termed ‘Small Finance Bank’, wholly focused on this segment.Read More +
Vistaar has won the SKOCH Award for“Segment Leadership & Financial Inclusion”.
(SKOCH Award is considered to be one of the most prestigious awards in India.)Read More +
ICICI Securities & CNBC-TV18 Present Decoding Business Growth Season 2
It’s a NBFC with difference! By focusing on micro businesses this Bengaluru-base company has loaned over 800 crore rupees to over 79,000 people. Catch the promoters and industry experts as they give insights into how Vistaar Financial Services was built.
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IMA Awards The Indian CFO award for Excellence in Finance in a Start-Up to Sudesh Chinchewadi.
Creating a paradigm for sustainable growth for a start-up can be among a CFO’s most complex mandates. Sudesh Chinchewadi is CFO of Vistaar Financial Services, an onward lending financial services firm focused on the MSME sector. Over the course of the past three years, Sudesh has proven that it is possible for startups to be about so much more than ‘cash burn’, and that it is possible for CFOs to lay the foundations of potential greatness in the coming decades of firms ‘just born’. Sudesh joined Vistaar during its inception stage, handholding the tiny company through its key needs of funding at one end, and expansion into India’s Tier II and III cities at the other. Whilst its potential is immense, Vistaar’s chosen area of operation – MSMEs in rural/semi-urban areas – is vulnerable to broader economic volatility at one level, and a talent crunch at another.Read More +