City-based MSME-focused financial services provider Vistaar Financial Services Pvt. Ltd. raised around Rs.250 crore in an internal round of funding. The Series D funding was led by existing investor WestBridge Capital along with Elevar Equity and Omidyar Network. Saama Capital and Lok Capital are the other existing investors in the company.
With the fresh capital infusion, the Bengaluru-based financial services start-up has raised around Rs.475 crore till date. The company will use the fresh funds to enter into new States and also offer new products. The investment will fund the expansion of its network to over 250 branches, including in five new States across the country, to reach a projected portfolio of over Rs.2,500 crore over the next three years. It will also invest in technology enabled credit processing and workflow management, and roll out customised financial products to cater to its target segment’s needs.
Speaking on the investment, Brahmanand Hegde, co-Founder and CEO, Vistaar Finance said, “Having deeply understood the needs of more than 1,00,000 customers across seven States and 10 sectors over the last five years, we are well positioned to expand to newer territories and to offer a wider range of financial products that will help our customers expand their businesses quickly.”
