Warburg Pincus to buy controlling stake in lendingtech startup Vistaar Finance – Startup Story

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Warburg Pincus, which is a New York-headquartered private equity firm, is acquiring a majority stake in Vistaar Finance. 
Vistaar Finance – a NBFC serving the MSMEs, will be letting go its existing shareholders – Westbridge Capital, Elevar Equity, Omidyar Network India, and Saama Capital. Kotak Investment Banking is acting as a financial advisor to this transaction. 
Vistaar Finance founded by Brahmanand Hegde & Ramakrishna Nishtala in April 2010 is  a  Bengaluru-based lending tech startup which offers secured loans to micro, small and medium enterprises across 12 states with 205 branches and over 2,100 employees. It also claims to offer secured lending across ticket size categories through business and housing loans. The company offers loans to shops, small manufacturing units, power looms, kirana /general shops, and home-based industries.
“We believe micro-enterprises in semi-urban and rural India are underserved by formal sources of credit and we believe Vistaar has the potential to fulfill that need gap and be a driver for broad-based growth on those regions and communities. Warburg Pincus has a deep history in partnering with exceptional teams, particularly within financial services and looks forward to a similarly exciting future at Vistaar.”-Commenting on the development, Narendra Ostawal, managing director, Warburg Pincus said.
 
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