Bengaluru, Dec 1 (UNI) Vistaar Finance, a Bengaluru based non-deposit-taking-NBFC focussed on lending to small businesses through a network of 200 plus branches has announced that it has raised Rs 225 crore (USD 30 million) External Commercial Borrowing (ECB) from FMO, the Dutch entrepreneurial development bank, making this amongst the larger such transactions in the MSME segment this year.
Thus, Vistaar has raised over Rs 550 Crore of debt financing in just seven months of this financial year. These funds will be lent to small businesses across the country, especially in this time of need. This is the second line of funding from FMO to Vistaar.
According to a press release here on Monday, Mr Brahmanad Hegde, Executive Vice Chairman said, “This funding helps underline the core objectives of Vistaar & FMO of lending to small businesses to support their sustainable growth. Onward lending of these funds to small businesses contributes directly to Government of India initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat’. 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.”
