SEF International was founded by World Vision International in 1997 and since 2009 has been under VisionFund, a microfinance subsidiary of World Vision International. First licensed MFI in Armenia, SEF International is regulated by the Central Bank of Republic of Armenia (CBA) as of 2003. Currently SEF occupies 3rd position in terms of asset size among non-bank financial organizations involved in micro finance, and 8th position, if banks are included.