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Armed with the Series A funding, Vistaar LFI expects to start operation soon and focus on expansion in the first year.

Vistaar Livelihood Finance (Vistaar LFI), a Bangalore-based microfinance entity offering finance to women entrepreneurs, has raised Rs 15 crore in equity from Elevar Equity Advisors Pvt Ltd and SVB India Capital Partners. 

With this, Sandeep Farias, founder & managing partner, Elevar Equity, and Ash Lilani, MD, SVB India Capital Partners, will join Vistaar LFI board.

Vistaar LFI is promoted by Brahmanand Hegde and Ramakrishna Nishtala, two first generation entrepreneurs. The company plans to utilise the fund to provide customised finance facilities to women entrepreneurs engaged in non-farm micro and small enterprises, apart from utilizing in opening branches, developing technology front and hiring people for running the business. 

Without divulging details on the quantum of stake the company has diluted, Brahmanand Hegde, founder & CEO, Vistaar LFI, told VCCircle that the funds are picking up a substantial minority in the company with this deal.

Vistaar LFI is an NBFC and a for-profit company. It has positioned itself as a provider of livelihoods finance, and plans to target segment beyond the traditional microfinance customers, at the bottom of the economic pyramid. It aims to cater to the missing middle segment, which is between the individual loan customers and the traditional microfinance customers, Hegde said.

The company was launched a month-and-a-half back, and targets 300-350 branches serving 1.2 million customers in the next four years, eying a pan-India operation. The ticket size for its loans ranges from Rs 10,000 to Rs 25,000. 

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