NBFC Dvara KGFS raises $14.4 M from Impact Investment Exchange

Chennai-headquartered Dvara KGFS , a non-banking financial company (NBFC) working in rural areas, has raised USD 14.4 million via listed non-convertible debentures (NCDs) from Singapore-headquartered Impact Investment Exchange (IIX).The new funds will be used to disburse loans to women borrowers through a joint liability group, micro enterprise loans, and loans for water, sanitation, and hygiene.Dvara KGFS is present in 10 states through 378 branches spread across 21,641 villages and 106 districts.