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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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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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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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Leapfrog, Stakeboat-backed Dvara KGFS set to secure fresh capital
VCCircle
·
4m 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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Exclusive: NeoGrowth backer LeapFrog set to bet on another Indian lender
VCCircle
·
1y ago
Medial
LeapFrog Investments, a private equity investment firm focused on social impact, is planning to invest in another Indian financial services company. The firm already has a portfolio of Indian investments, including Electronica Finance, Dvara KGFS, Northern Arc Capital, and Shubham Housing Development Finance. This move aligns with LeapFrog's strategy to provide growth capital to companies in Asia and Africa.
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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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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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LeapFrog Investments promotes exec to partner role
VCCircle
·
1y ago
Medial
LeapFrog Investments has appointed an executive to the position of partner. The private equity firm is known for its investments in various lending companies, including NeoGrowth and Dvara KGFS, as well as Redcliffe Labs diagnostics chain. This move comes after LeapFrog Investments recently increased its climate investment vehicle.
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Xampla Raises $7M in Funding
Finsmes
·
1y ago
Medial
Cambridge-based natural materials company, Xampla, has secured $7 million in funding, bringing their total funding to $17.6 million. The funding round saw participation from various investors including Amadeus Capital Partners and Horizon Ventures. Xampla plans to use the funds to expand their consumer brand, Morro, into new markets and advance the production of biodegradable, plant-based materials as alternatives to single-use plastics. The company's technology is already being used by notable brands and they aim to explore additional applications and optimize efficiency in collaboration with partners.
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Vivriti Asset taps foreign investors for GIFT City fund, raises over half the corpus
VCCircle
·
4m ago
Medial
Vivriti Asset Management, part of Chennai's Vivriti Group, has successfully engaged foreign investors for its fund located in Gujarat's GIFT City. As of Thursday, the company has achieved approximately 60% of the fund’s intended corpus. The focus of Vivriti is on debt-financing, and this new development indicates strong external interest and support for their financial initiatives and strategies within this significant Indian financial hub.
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Venture debt remained flat in 2024 at $1.2 billion: Report
Economic Times
·
3m ago
Medial
In 2024, venture debt maintained a steady level of $1.2 billion, with a significant 58% CAGR from 2018. The number of deals rose by 28.6%, driven by sectors like fintech, cleantech, and consumer tech. Major venture debt participants in India include Stride Ventures and Trifecta Capital. As equity becomes selective, venture debt is essential for bridging funding gaps and enabling strategic growth. Key startups like Zepto and Rebel Foods benefit from this funding trend.
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