Dvara Kshetriya Gramin Financials (KGFS), a leading non-banking financial company dedicated to serving remote rural communities, has secured a significant boost with a $10 million debt funding from BlueOrchard Microfinance Fund, a renowned social impact investor.
Empowering Underserved Communities: A Strategic Investment
This infusion of funds underscores Dvara KGFS’s commitment to expanding its reach and bolstering initiatives aimed at supporting underserved communities. The proceeds from this funding round are earmarked for the company’s expansion efforts, enabling it to further its mission of financial inclusion in remote rural regions.
Continued Growth Trajectory
This funding announcement follows closely on the heels of Dvara KGFS’s recent successful raise of $14.4 million from Impact Investment Exchange (IIX) through listed non-convertible debentures in March. With a total funding tally of $38 million to date, Dvara KGFS is well-positioned to accelerate its growth and scale its operations.
Diversified Financial Services Portfolio
Dvara KGFS offers a comprehensive suite of financial services tailored to the needs of low-income households and small businesses in rural India. From money transfers and bill payments to crop loans and savings accounts, the company caters to a wide range of financial needs within the fintech segment, operating across both B2C and B2B channels.
Driving Financial Inclusion: Vision and Leadership
Founded in 2008 and headquartered in Chennai, Dvara KGFS is backed by Dvara Trust, a private trust committed to promoting financial inclusion. Under the leadership of LVLN Murty, the company’s Managing Director and CEO, Dvara KGFS has expanded its footprint to over 400 branches across 10 states, with a dedicated workforce of 2,800 employees.
Thriving Fintech Ecosystem: A Landscape of Innovation
In the dynamic Indian fintech landscape, Dvara KGFS’s funding announcement comes amidst a flurry of activity. From neobanks securing NBFC licenses to digital lending platforms raising substantial funds, the sector continues to witness robust growth and innovation. Dvara KGFS’s latest funding round reaffirms its pivotal role in driving financial inclusion and empowering rural communities amidst this backdrop of industry evolution.
In conclusion, Dvara KGFS’s partnership with BlueOrchard underscores its unwavering commitment to advancing financial inclusion and empowering rural communities through innovative financial solutions. With a strong financial foundation and a clear vision for the future, Dvara KGFS is poised to lead the charge in transforming the lives of millions across rural India.
