Dvara KGFS Raises $10 Million in Debt Round from BlueOrchard

Dvara KGFS
Preeti Bali / 9:04 am / May 27, 2024

Dvara Kshetriya Gramin Financials (KGFS), a non-banking financial company (NBFC) operating in remote rural parts of India, has successfully raised debt financing of $10 million from the BlueOrchard Microfinance Fund. Let’s delve into the details:

Empowering Underserved Communities

Dvara KGFS aims to empower underserved communities across the country. By securing this debt round, the company intends to strengthen its efforts in providing financial services to those in need.

Expansion Plans

The fresh funds will be utilized for expansion plans, allowing Dvara KGFS to reach more individuals and nano/micro-businesses in rural India. With over 400 branches across 10 states, including Tamil Nadu, Uttarakhand, Uttar Pradesh, Chhattisgarh, Jharkhand, and Bihar, Dvara KGFS is committed to enhancing financial inclusion.

Previous Funding

Before this round, Dvara KGFS had raised $14.4 million through listed non-convertible debentures (NCDs) from Impact Investment Exchange (IIX) in March of the same year.

About Dvara KGFS

Incorporated in August 2008 by Dvara Trust and led by LVLN Murty, Dvara KGFS provides loans and other financial services to more than 2.41 million customers in rural India.-

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