One of India's leading financial services providers focused on underserved rural communities has received a major capital injection to further its mission. Chennai-based Dvara Kshetriya Gramin Financials (Dvara KGFS) has obtained $10 million in debt financing from renowned impact investor BlueOrchard Microfinance Fund.
Founded over a decade ago, Dvara KGFS aims to increase access to essential financial products and services for low-income households and small businesses located in remote regions across 10 Indian states. The fresh funding will enable the nonprofit organization to deepen its outreach and support initiatives benefiting underserved communities.
This investment comes shortly after Dvara KGFS raised $14.4 million through listed bonds issued on the Impact Investment Exchange earlier this year. With total funding nearing $40 million to date, the firm continues garnering backing from mission-driven backers committed to inclusive growth.
Operating over 400 branches, Dvara KGFS employs nearly 3,000 individuals delivering savings accounts, loans, transfers, bill payments and insurance through both digital and physical channels. As financial inclusion accelerates nationwide, the company is well-positioned to empower those remaining outside the traditional system. This newest infusion of capital will allow even greater impact moving forward.
