Fincare Business Services is the central holding company operating a clutch of businesses at the base of pyramid and manages assets over Rs.1600 Cr. The company has equity investment from India Value Fund (IVFA), a premier private equity fund in India along with the Indian promoters. Fincare was formed in Sep-2014, to consolidate the base of pyramid financial services and distribution (BOP-FSD) platform under one umbrella.
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. NBFC-MFIs Disha Microfin and Future Financial Servicess Pvt Ltd.
2. Business Correspondent (BC) services through Fincare Lok.
3. Social & Community Development Initiatives through Fincare Sarv.