Dvara Kshetriya Gramin Financials, a fintech startup operating in rural parts of India, has raised $10  million in debt funding from BlueOrchard Microfinance Fund. Entrackr reports the startup will use this  fresh proceed to strengthen its effort to empower underserved communities across the country and  use funds for expansion plans.  

According to Entrackr report, the NBFC has raised over $14.4 million through non-convertible  debentures from Impact Investment Exchange in March. The startup has hundreds of branches across  10 states in India. This fresh fund will be deployed by Dvara KGFS to expand its product in the market  and initiatives to support rural areas. 

It reported the Access Under Management to be more than Rs 2,000 crore. The Indian Financial  Landscape is growing, leading investors to have more interest in the Fintech sector. Recently, Propelled  has secured debt funding of $25 million for its NBFC Edgro Finance. The start-up raised funding from  9 investors including Credit Saison India, AU small finance bank, Incred Financial Service, and Northen  Arc Capital. Neobank Fi also secured a NBFC license from the Reserve Bank of India. In addition to the  recent funding, the company raised over $14.4 million in March through non-convertible debentures  from Impact Investment Exchange. This investment in Dvara KGFS reflects the confidence of  BlueOrchard in its mission and business model. 

Fintech startups are attracting significant investment because of the growing interest and demand in  this sector. Over the past three weeks, fintech startups have entered the highest amount of backing  among all Indian startups. The startup plans to use the new finances for its expansion efforts and to  launch the enterprise aimed at supporting underserved communities in India. This means they will  expand their services and programs to reach more people who currently have limited access to  financial services. The increased investment will help Dvara KGFS grow its business and make a positive  impact on communities that need financial support. 

Conclusion: 

Dvara KGFS, a non-banking financial startup focused on rural India, has raised $10 million in debt  funding led by BlueOrchard Microfinance Fund. The NBFC has raised over $14.4 million through non convertible debentures from Impact Investment Exchange in March. The startup has hundreds of  branches across 10 states in India. This fresh fund will be deployed by Dvara KGFS to expand its product  in the market and initiatives to support rural areas. Previously, they raised over $14.4 million through  non-convertible debentures from Impact Investment Exchange.

The Indian Financial Landscape is  growing, leading investors to have more interest in the Fintech sector. Recently, Propelled has secured  debt funding of $25 million for its NBFC Edgro Finance. This new funding will help them grow further  and continue making a positive impact on rural communities. platform. The start-up raised funding of  $25 million from 9 lenders including Credit Saison India, Incred Financial Service, AU small finance bank, and Northen Arc Capital. Propelld provides education loans to those who want to borrow money  via online channels.