Vistaar Finance: Supporting India’s Small Businesses
Small businesses in India are finding a friend in the Vistaar Finance Organization. Since 2010, the Bangalore based company has reached out to an often overlooked demographic with innovative credit and lending programs focused on rural and semi-urban markets. With a customer-centric approach, the organization has quickly become a valuable asset to growing small businesses in India.
Vistaar also holds itself to a set of ethical values in its work. Founded on the belief that creating new economic opportunities can enrich the lives of a community, Vistaar promises service free from discrimination of race, caste, or religion. Vistaar also endorses the principles of the Smart Campaign, which include the promise of transparency, responsible pricing, and the prevention of over-indebtedness. Sandeep Fairas, a nominee director of Vistaar, has said that “Lack of access to basic services for any individual is really an issue of discrimination and must be challenged. It is imperative that we leverage the power of markets to scale and provide access to life changing services to millions of individuals and communities.”
Fairas is also the founder of Elevar Equity, a key investor in Vistaar. Vistaar has invested over Rs. 227crs (US $36 million) in small businesses across India. With 51 branches currently, and continued support from Elevar Equity and others, Vistaar is seeking to expand to 180 branches within the next few years.
– David Smith
Sources: Vistaar Finance, The Economic Times