M&A

M&A

Dvara KGFS acquires digital financial services platform TransactNow

Economic Times  

Dvara Kshetriya Gramin Financial Services Pvt Ltd. (Dvara KGFS), a non-bank lender operating in rural India, has acquired fellow Chennai-based TransactNow, a digital platform of Transact Nexus Tech that's bringing banking services to the unbanked and underserved via the acquihire model. With this, Dvara KGFS is starting a new channel, KGFS Digital, which will foray into the agent-driven business model of providing a vast array of financial services to rural customers through agent touch points located near villages. KGFS Digital will be led by Transact Nexus Tech CEO Sathishkumar.

From the Venture Intelligence PE-VC Deal Database: Between Mar-19 and Apr-19, Dvara KGFS raised more than INR 183 crore from Stakeboat Capital, LeapFrog, Norwegian Microfinance Initiative and Accion International. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)