Dvara KGFS Expands with Major Equity and Bond Injections
Dvara KGFS has secured a significant capital boost from Sparkassen International Development Trust and FMO Entrepreneurial Development Bank. The funds will strengthen its financial base and support growth, enhancing its digital transformation and expanding its outreach with new branches in underserved areas.
- Country:
- India
Dvara Kshetriya Gramin Financial Services (Dvara KGFS) has successfully raised equity of €3 million from Sparkassen International Development Trust GmbH and $5 million from subordinated bonds issued to FMO Entrepreneurial Development Bank.
The investment aims to bolster Dvara KGFS’s capital foundation and facilitate its growth strategies. This marks Sparkassen International Development Trust's inaugural venture into the Indian financial inclusion market.
Dvara KGFS CEO LVLN Murty hailed the funding as a testament to the company's resilient business model. With plans to open 50 new branches, Dvara KGFS is set to deepen its impact on underserved communities, deploying technology to enhance operations.
(With inputs from agencies.)
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