Business EconomyPosted at: Jun 18 2024 7:04PM


Dvara KGFS gets USD 7 mn debt financing

Chennai, June 18 (UNI) Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), a rapidly growing financial services company dedicated to maximizing financial well-being in rural India, today, announced the successful debt raise of USD 7 million, for the second time, through External Commercial Borrowings (ECBs) from Enabling Qapital, a leading Impact Investment Advisory Company dedicated to achieving financial and social returns.
Enabling Qapital (EQ), a regulated Impact Asset Managers committed to creating a world where investments yield financial and social returns.
EQ fosters positive economic, social, and environmental impacts through strategic investment initiatives, according to a press release.
Commenting on the successful fund raise, Mr. LVLN Murty, Managing Director & CEO, Dvara KGFS, stated, "We are delighted to have this repeat round of debt raise from Enabling Qapital and we look forward to working with them more closely in future to foster our common objectives of expanding sustainable and customer centric financial inclusion initiatives. This newly raised funds will be utilised towards on-going lending activities and creating wealth opportunities for deep rural parts of India.”
Ms. Shilpa Bhatter, CFO, Dvara KGFS added that over a period, Dvara KGFS has significantly diversified its funding sources and has been actively engaging with like-minded impact investors.
It has tapped into global debt markets to fuel its growth plans and at the same time increase funding resilience.
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