2 months ago
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Dvara KGFS said it had raised $27 million in debt funds to augment liquidity and accelerate growth plans.
The Chennai-based rural fintech secured $20 million in the form of external commercial borrowings (ECB) from a Dutch entrepreneurial development bank and $7 million from a leading Impact Investment advisory company, Dvara KGFS said in a statement.
The company aims to utilise the proceeds of the ECBs towards its onward lending programme, focusing on supporting microfinance and micro-business loans for customers in regions with limited access to formal credit channels.
Dvara KGFS also announced that it had crossed the ₹2,000-crore mark in Assets Under Management.
“This fundraising not only diversifies our lender profile but also strengthens our presence in the foreign debt market, unlocking access to lower-cost debt and ensuring a sustainable growth path for Dvara KGFS,” said CFO Shilpa Bhatter.
