Fincare Business Services

The journey of the platform began with equity investment by IVFA in the year 2010 with acquisition of a stake in two NBFC-MFIs viz. Disha Microfin Pvt Ltd (Disha) based in West India and Future Financial Servicess Limited (FFSL) operating in South India. IVFA also created a central management company, India Finserve Advisors Pvt Ltd (IFAPL) as an advisory and management services arm for its investee companies. Along the way, a fourth entity came into existence viz. Lok Management Service Pvt Ltd (Lok) in 2012, established as a Business Correspondent to Banks, helping in furthering their financial inclusion agenda through microfinance products & services.

In a span of less than 5 years, the base of pyramid Financial services and distribution platform of IVFA, comprising of Disha, FFSL , Lok and IFAPL acquired scale and stature rapidly necessitating the need to consolidate the business under a holding company to sustain the organic and exponential growth envisaged for the platform. To this end, the business interests of IVFA in the platform got merged under the holding company Fincare Business Services Pvt Ltd in Sep-2014 with Corporate Office at Bangalore, Karnataka.

The umbrella holding company Fincare comprises the following businesses:

1.       Microfinance (MFI) through the NBFC-MFI, Fincare Disha.

2.       Business Correspondent (BC) services through Fincare Lok

3.       Financing for Micro Enterprises through Fincare Money and

4.       Social & Community Development Initiatives through Fincare Sarv

 

Note: Disha Microfin, part of Fincare group, has received in-principle approval from RBI to setup a Small Finance Bank. In a span of next 18 months the group companies will get restructured to form Fincare Small Finance Bank and continue its financial inclusion Journey.