Dvara Kshetriya Gramin Financial Services Private Limited
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
Dvara KGFS Ltd (''Dvara'') is a non-deposit-taking NBFC (non-bank financial institution) that has been operating in India since 2013. It targets underserved microentrepreneurs mainly through Joint Liability Group (JLG) lending and unsecured MSME (micro, small, and medium-sized enterprise) lending. Dvara is an existing client in FMO's portfolio.
What is our funding objective?
The objective of the funding is to support Dvara KGFS in executing a strategic digital transformation that enables a shift from a group-loan-dominated portfolio to a more balanced mix of individual and enterprise lending. This transition is critical to expanding outreach to underserved MSMEs, diversifying geographically beyond South India, and improving operational efficiency through digital channels.
Why do we fund this investment?
This project is strongly aligned with FMO’s mission and the objectives of the DFC/MASSIF Technical Assistance Facility. It supports key themes such as financial inclusion, rural livelihoods, MSME growth, and digital innovation by enabling Dvara to expand digital financial services to underserved communities in India. By addressing structural barriers to access and building long-term digital capabilities, the project exemplifies the catalytic role of the DTX TAF and contributes directly to inclusive, sustainable development in a priority market.
More investments
| Date | Total FMO financing |
|---|---|
| 12/11/2025 | EUR 0.06 MLN |
| 12/15/2023 | USD 13.00 MLN |
| 12/15/2023 | USD 7.00 MLN |
| 3/30/2025 | USD 7.00 MLN |
| 3/30/2025 | USD 5.00 MLN |
- Website customer/investment
- https://www.dvarakgfs.com/
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Publication date
- 1/14/2026
- Effective date
- 12/11/2025
- Total FMO financing
- EUR 0.13 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C