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News on Medial
Non-Bank Lender Dvara KGFS Gets $10Mn Infusion From BlueOrchard
Inc42
·
1y ago
Medial
Dvara KGFS has raised fresh funds to support its expansion and community initiatives. The company recently received $14.4 million from Impact Investment Exchange (IIX), and with the latest funding, it has reached a total funding amount of $38 million. The funds will be utilized to extend its services and provide support to underserved communities.
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NBFC Dvara KGFS raises $14.4M in debt Impact Investment Exchange
IndianStartupNews
·
1y ago
Medial
Dvara KGFS, an Indian NBFC, has raised $14.4 million through non-convertible debentures. The investment, led by Impact Investment Exchange, is part of the Women’s Livelihood Bond 6, which focuses on gender equity and climate action. Dvara KGFS plans to impact nearly 88,000 women through loans targeting joint liability groups, micro-enterprises, and water, sanitation, and hygiene projects. The company has seen significant growth, with over 400 branches and Rs 2,000 crore in assets under management. Dvara KGFS aims to empower women and promote economic resilience in rural regions of India.
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NBFC Dvara KGFS raises $14.4 Mn debt
Entrackr
·
1y ago
Medial
Dvara Kshetriya Gramin Financials, an NBFC operating in remote rural parts of India, has raised $14.4 million through listed non-convertible debentures (NCDs) from Impact Investment Exchange (IIX). IIX provided Dvara debt capital through the $100 million Women’s Livelihood Bond 6 (WLB6. Last month, Dvara KGFS raised $27 million in debt capital from Dutch company FMO and Enabling Capital. Together, Dvara KGFS will contribute to the movement’s goal of mobilizing $10 billion to empower 100 million women, girls, and gender minorities by 2030, the company said in a press release. Dvara KGFS also said that it aims to impact 87,900 women and girls over the WLB6’s four-year tenure, leveraging the IIX Values platform for impact measurement. Led by LVLN Murty, Dvara KGFS is an NBFC which focuses on the well-being of individuals and nano and micro-businesses in rural India. It has over 400 branches across 10 states including Tamil Nadu, Uttarakhand, Uttar Pradesh, Chhattisgarh, Jharkhand, and Bihar among others. In February, the firm also surpassed Rs 2,000 crore in Assets Under Management (AMU). Dvara KGFS recorded 33% growth in its scale to Rs 380.5 crore in FY23 as compared to Rs 285.9 crore in FY22. As per the company’s consolidated financial statements, it also turned profitable during the year with Rs 12.6 crore profits against loss in FY22.
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Chennai's Dvara KGFS raises $7M in debt from Enabling Capital
Inshorts
·
1y ago
Medial
Chennia-based NBFC firm Dvara Kshetriya Gramin Financials (Dvara KGFS) has raised $7 million in debt through External Commercial Borrowings (ECBs) from Enabling Qapital (EQ). Dvara KGFS is a medium-tier NBFC that provides loans and other financial services to more than 2.41 million customers in rural India. The firm operates over 400 branches in 110 districts in 10 states.
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DVARA KGFS bags $10 Mn in debt round
Entrackr
·
1y ago
Medial
Dvara Kshetriya Gramin Financials, an NBFC operating in remote rural parts of India, has raised debt of $10 million from BlueOrchard Microfinance Fund. The firm will use the fund for expansion plans and strengthen its efforts to empower underserved communities across the country. Earlier to this round, the NBFC had raised $14.4 million through listed non-convertible debentures (NCDs) from Impact Investment Exchange (IIX) in March this year. Led by LVLN Murty, Dvara KGFS focuses on the well-being of individuals and nano and micro-businesses in rural India. It leverages an omni-channel approach, offering a wide range of loans and third-party products to cater to the diverse financial needs of its clientele It has over 400 branches across 10 states including Tamil Nadu, Uttarakhand, Uttar Pradesh, Chhattisgarh, Jharkhand, and Bihar, among others. Dvara KGFS recorded 33% growth in its scale to Rs 380.5 crore in FY23 as compared to Rs 285.9 crore in FY22. As per the company’s consolidated financial statements, it also turned profitable during the year with Rs 12.6 crore profits against loss in FY22. In February this year, the firm also surpassed Rs 2,000 crore in Assets Under Management (AMU).
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Leapfrog, Stakeboat-backed Dvara KGFS set to secure fresh capital
VCCircle
·
5m ago
Medial
Dvara Kshetriya Grameen Financial Services Ltd (Dvara KGFS), a shadow banking entity supported by Leapfrog Investments and Stakeboat Capital, is raising $12 million in fresh capital from a global development financial institution. The Chennai-based firm aims to use this capital to expand its lending operations to small businesses across India, bolstering its financial services reach and impact.
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Motilal Oswal Alternates, TPG, others bet $160 mn on SK Finance
VCCircle
·
1y ago
Medial
Non-banking lender SK Finance has raised INR 1,328 crore ($160 million) in a new funding round. The round saw participation from new investors such as Motilal Oswal Alternates, along with existing backers including TPG Growth. The Jaipur-based shadow lender will use the capital infusion to bolster its brand, distribution, technology, and team. SK Finance primarily offers financing for used vehicles and loans to small and medium-sized enterprises.
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Namdev Finvest raises $38 mn in fresh capital from DFIs
VCCircle
·
6m ago
Medial
Jaipur-based MSME lender Namdev Finvest has secured $38 million from development finance institutions, including US-based Developing World Markets (DWM) and BlueOrchard-managed funds. DWM contributed $8.25 million, while BlueOrchard provided $13 million. Global asset manager Mirova invested $10 million, marking its entry into the Indian market. This funding will help Namdev Finvest expand operations beyond traditional lending models, focusing on underserved rural and semi-urban borrowers and supporting projects in clean mobility and renewable energy sectors.
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Florintree-backed Satin Creditcare raising $40 mn from offshore investor
VCCircle
·
1y ago
Medial
Indian microfinance lender Satin Creditcare is raising $40 million in funding from a global development bank to expand its lending portfolio in sectors such as water sanitation, induction cookers, and solar panels. The capital infusion will help the company grow its operations and support its mission of financial inclusion in underserved areas.
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VC-backed Credit Fair gets fresh capital from impact investor
VCCircle
·
5m ago
Medial
Credit Fair, a non-bank lender, secured $5 million in debt capital from a British International Investment-backed bond issued by Symbiotics Investments to enhance renewable energy adoption. The funds will support rooftop solar financing in tier-2 and tier-3 Indian cities, focusing on residential and MSME customers. Credit Fair plans to finance 2,500 new solar projects, aiming to reduce carbon emissions and provide sustainable energy. Founded in 2018, it's backed by various institutional investors.
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Accion, Leapfrog minting money from India bet but IFC sitting on a loss
VCCircle
·
11m ago
Medial
Accion and Leapfrog Investments, global impact investors, are seeing significant returns on their investment in an Indian non-bank lender. However, the International Finance Corporation (IFC) is facing a loss. Alongside Accion and Leapfrog, other investors such as Eight Roads Ventures, Sumitomo Mitsui Banking Corporation, and alternative investment funds in India have also invested in the non-bank lender.
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