Dvara KGFS raises $10 million

CHENNAI: Non-banking financial company Dvara KGFS has raised $10 million from Triple Jump, the portfolio manager of Global Gender-Smart Fund (GGSF), a gender-lens investment fund.
It includes a subordinated debt of $5 million and a senior secured debt of $5 million through external commercial borrowings (ECBs).
The proceeds from the fundraise would be used for providing micro enterprise loans to women beneficiaries, the company said in a statement on Monday.
Dvara KGFS MD & CEO LVLN Murty said this funding would facilitate reaching out to more under-resourced communities with more use-case financing solutions.
"The company recognizes its enterprise loans product as a key growth driver. In an endeavour to shore up the portfolio, we have forayed into Andhra Pradesh taking our presence to 11 states,” he said.