Dvara Kshetriya Gramin Financial Services Private Limited (Dvara KGFS), a leading rural NBFC dedicated to fostering financial inclusion in deep rural villages across India, has expanded its footprint by entering Andhra Pradesh. The expansion follows the successful raising of $5 million in subordinated debt and another $5 million in senior secured debt through external commercial borrowings (ECBs) facilitated by Triple Jump, acting as portfolio manager of the global gender-smart fund (GGSF).
The GGSF focuses on bridging the gender gap by providing responsible and accessible financial services to traditionally underserved women, women-owned enterprises, and women-led businesses in developing markets.
LVLN Murty, MD-CEO of Dvara KGFS, noted that the funding strengthens their financial foundation, enabling them to reach more under-resourced communities with tailored financing solutions. The proceeds will be used primarily for micro enterprise loans to women beneficiaries. Dvara KGFS views its enterprise loans product as a key growth driver and has expanded its presence to 11 states across India with the entry into Andhra Pradesh.
Shilpa Bhatter, CFO of Dvara KGFS, added that the subordinated debt facility enhances their capital adequacy and provides a solid foundation for the company’s growth initiatives.
