Dvara Kshetriya Gramin Financials (KGFS), a pioneering NBFC dedicated to serving remote rural areas of India, has successfully raised $10 million in debt financing from the BlueOrchard Microfinance Fund. This substantial injection of capital marks another significant step in Dvara KGFS’s mission to uplift underserved communities nationwide.
The freshly acquired funds are earmarked for strategic expansion initiatives, aimed at fortifying Dvara KGFS’s outreach and impact across rural India. Led by visionary LVLN Murty, Dvara KGFS has steadfastly prioritized the holistic well-being of individuals and nano/micro-businesses within these often overlooked regions.
Utilizing an innovative omnichannel approach, Dvara KGFS offers an extensive suite of financial solutions, including loans and third-party products, tailored to meet the diverse needs of its clientele. This approach has not only enabled financial inclusion but has also fostered economic resilience within rural communities.
This recent financing round follows closely on the heels of a $14.4 million capital infusion through listed non-convertible debentures (NCDs) from Impact Investment Exchange (IIX) earlier this year. These successive funding milestones underscore the confidence and support garnered by Dvara KGFS’s impactful mission and robust operational model.
With a network spanning over 400 branches across 10 states, including Tamil Nadu, Uttarakhand, Uttar Pradesh, Chhattisgarh, Jharkhand, and Bihar, Dvara KGFS has established itself as a formidable force driving financial inclusion in rural India.
In February of this year, Dvara KGFS achieved another milestone by surpassing Rs 2,000 crore in Assets Under Management (AUM), further solidifying its position as a leader in the rural financial services sector.
As Dvara KGFS continues to expand its footprint and deepen its impact, the infusion of $10 million in debt financing reaffirms its commitment to fostering sustainable economic development and empowerment in some of India’s most marginalized communities.
