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May 3, 2017

Deal Street: Vistaar Finance Raises $18 Million In Debt Funding

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Bengaluru-based financial services startup, Vistaar Finance, raised around Rs 125 crore ($18 million) in debt funding from Reliance Mutual Funds, Ramakrishna Nishtala, managing director and CEO of Vistaar Finance, told BloombergQuint over the phone.

Founded in April 2010, the company aims to use the funds for onward lending to medium, small and micro enterprises in rural and urban areas. The lender provides loans in the ticket size of Rs 4-5 lakh, and has disbursed more than Rs 1,100 crore to over a lakh customers so far. Vistaar finance had last raised $27.3 million in a Series C round from Westbridge Capital, and followed it up with an internal round of $37.58 million, led by existing investor Westbridge Capital and earlier investors, Omidyar and Elevar Equity, in May 2015

The company currently operates across 205 cities.

Read Original article: https://www.bloombergquint.com/business/2017/05/02/deal-street-vistaar-finance-raises-dollar18-million-in-debt-funding

Author:
Vistaar Official