Emerging Entrepreneurs

Dvara KGFS raises ₹70 crore in Series E

| Updated on October 01, 2019

Dvara KGFS, a financial services company that is into financial inclusion, has raised ₹70 crore in the second tranche of a Series E round, from Nordic Microfinance Initiative, an investment fund owned by the Norwegian and Danish governmental funds for developing countries.

With this, Dvara has raised ₹167 crore in the Series E round. It had raised ₹97 crore in May in a round led by Stakeboat Capital, with participation from existing investors LeapFrog Investment and Dvara Trust.

Dvara KGFS will use the money for geographical expansion, product diversification and focus on technology. Dvara KGFS now has a presence in Tamil Nadu, Odisha, Uttarakhand and Karnataka serving individual customers and enterprises in remote rural areas.

Published on October 01, 2019

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