Dvara KGFS Expands with Major Equity and Bond Injections

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.)