Vistaar Financial Services
Vistaar Financial Services Private Limited (Vistaar) is a Bangalore-based non-banking financial company catering to micro, small and medium enterprises in rural and semi-urban areas in South India. This sector, which is crucial to India’s economy, has limited access to organised financial services and is therefore often referred to as the ‘missing middle’. In terms of loan size, this is a target group just above the ‘traditional’ microfinance clients in India. The key businesses of Vistaar’s clients include mechanical weaving, small shops, traders and small manufacturing units.
Vistaar, which means expansion, growth and evolution in Sanskrit, started its operations in 2010. Triodos Fair Share Fund and Triodos Microfinance Fund are Vistaar’s first foreign lenders, through a so-called Non-Convertible Debentures (NDC) transaction; the Indian equivalent of providing a loan. This loan will enable Vistaar to further realise its growth ambitions.
KEY INDICATORS as of 31 December 2015:
- number of loan clients: 72,742
- percentage female clients: 80%
- percentage rural clients: 59%
- average loan amount: EUR 1,384