Strategically pivoting towards enhancing wholistic financial access to Micro Entrepreneurs in the inclusion space, the NBFC says
MUMBAI, May23 (The CONNECT)- Financial inclusion-focused NBFC Dvara Kshetriya Gramin Financial Services (Dvara KGFS) has successfully raised Equity of 3Mn Euro from Sparkassen International Development Trust GmbH (SIDT) and 5Mn USD through issuance of Subordinated Bonds to FMO Entrepreneurial Development Bank.
This infusion will further enable Dvara it to augment its growth plans and expand its outreach. The company is strategically pivoting towards enhancing wholistic financial access to Micro Entrepreneurs in the inclusion space.
SIDT is part of the German Sparkassen Group, considered the largest financial group in Europe. SIDT launches its first equity participation in the Indian financial inclusion space with this investment in Dvara KGFS.
FMO Entrepreneurial development bank is a public-private development bank supervised by the Dutch Central Bank (DNB). FMO’s first investment in Dvara KGFS came in FY24.
LVLN Murty, Managing Director and CEO, Dvara KGFS, said, this fund raise is a testimony of the resilience, agility and scalability of the company’s business model and lending infrastructure. Dvara plans to open 50 branches in this financial year, thereby taking the total branch strength to 477.
Dvara KGFS provides an array of loans and third-party products tailored to meet its customers’ diverse financial needs through an omnichannel approach.
Carsten Steffan,Managing Director of Sparkassen International Development Trust GmbH said, this investment “reflects our commitment to creating sustainable impact by supporting institutions that demonstrate deep local insight, strong governance, and scalable models”.
