Dvara Kshetriya Gramin Financials (KGFS) yesterday announced a debt raise of $7 million, for the second time, through External Commercial Borrowings (ECBs) from Enabling Qapital, a leading Impact Investment Advisory Company dedicated to achieve financial and social returns, according to a statement form Dvara KGFS.
Commenting on the fund raise, LVLN Murty, Managing Director and CEO, Dvara KGFS, stated in the statement, “We are delighted to have this repeat round of debt raise from Enabling Qapital and we look forward to work with them more closely in future to foster our common objectives of expanding sustainable and customer-centric financial inclusion initiatives. This fund will be utilised towards ongoing lending activities and creating wealth opportunities for deep rural parts of India.”
Enabling Qapital is committed to create a world where investments yield financial and social returns. EQ fosters positive economic, social and environmental impacts through strategic investment initiatives, the statement mentioned.
Shilpa Bhatter, CFO, Dvara KGFS, added that over a period, Dvara KGFS has significantly diversified its funding sources, and it has been engaging with like-minded impact investors. It has tapped into global debt markets to fuel its growth plans, and at the same time, increase funding resilience.
