Vistaar Finance Secures $50 Million from DFC to Boost MSME Lending

Bengaluru-based Vistaar Finance has recently secured a significant $50 million funding from the U.S. International Development Finance Corporation (DFC). This strategic investment is poised to bolster Vistaar’s mission to enhance financial inclusion for small and medium-sized enterprises (MSMEs) in India, with a particular focus on women-owned and -led businesses. This development marks a critical milestone in the company’s growth trajectory and its ongoing efforts to address the financial needs of underserved segments in the country.

Overview of Vistaar Finance

Founded in 2010 by Brahmanand Hegde and Ramakrishna Nishtala, Vistaar Finance is a non-banking financial company (NBFC) dedicated to providing financial solutions to MSMEs in India. The company has successfully funded over 200,000 small businesses across 12 states, building a robust loan book valued at approximately INR 3,100 crore (around $380 million). Vistaar’s focus on sectors such as business and housing loans has made it a crucial player in the financial ecosystem supporting India’s micro-enterprises.

Vistaar Finance

The Role of DFC

The U.S. International Development Finance Corporation (DFC) is the United States’ development bank, focusing on mobilizing private capital to solve critical development challenges. DFC’s investments span various sectors, including energy, healthcare, critical infrastructure, and technology, with a strong emphasis on supporting small businesses and women entrepreneurs. The $50 million funding to Vistaar Finance is part of DFC’s broader strategy to foster inclusive economic growth in emerging markets​.

Significance of the Funding

This infusion of capital is expected to significantly enhance Vistaar’s capacity to provide secured lending to MSMEs. According to Avijit Saha, CEO of Vistaar Finance, the DFC loan will be instrumental in expanding the company’s secured MSME lending portfolio, thereby increasing access to capital for small women-owned and -led enterprises​​. This focus aligns with DFC’s commitment to promoting gender equality and economic inclusion through its investments.

Previous Investments and Strategic Growth

Prior to the DFC funding, Vistaar Finance received a $40 million equity investment from Warburg Pincus in May 2023, giving the private equity firm a controlling stake in the company​​. This investment laid the groundwork for Vistaar’s strategic growth, enabling it to scale its operations and enhance its service offerings to the MSME sector. The cumulative impact of these investments is expected to further solidify Vistaar’s position as a key financial partner for small businesses in India.

Broader Impact and Future Prospects

The partnership with DFC not only provides Vistaar with the necessary capital to expand its lending activities but also underscores the importance of financial inclusion in driving sustainable economic development. By empowering small businesses, particularly those led by women, Vistaar is contributing to job creation and economic empowerment in rural and semi-urban areas. This, in turn, supports broader developmental goals, including poverty reduction and gender equality.

Looking ahead, Vistaar Finance aims to continue its focus on the MSME segment, leveraging its strong foundation and strategic partnerships to drive growth and impact. The company’s commitment to financial inclusion and its ability to adapt to the evolving needs of its clientele will be crucial in sustaining its momentum and achieving long-term success.


The $50 million funding from DFC represents a significant boost for Vistaar Finance, enabling it to expand its reach and impact within the MSME sector in India. With a strategic focus on supporting women-owned and -led enterprises, Vistaar is well-positioned to play a pivotal role in fostering inclusive economic growth. As the company moves forward, its ability to leverage this funding effectively will be key to realizing its vision of financial inclusion and empowerment for underserved communities.

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