Dvara KGFS raises $8.4 M from European development agencies

NBFC Dvara Kshetriya Gramin Financial Services (Dvara KGFS) has raised Euro 3 million (about USD 3.4 M) in equity capital from Sparkassen International Development Trust GmbH (SIDT) and USD 5 million through issuance of Subordinated Bonds to FMO Entrepreneurial Development Bank.SIDT is part of the German Sparkassen Group, considered the largest financial group in Europe. SIDT launches its first equity participation in the Indian financial inclusion space with this investment in Dvara KGFS.FMO Entrepreneurial development bank is a public-private development bank supervised by the Dutch Central Bank (DNB). FMO’s first investment in Dvara KGFS came in FY24.