Chennai: Dvara KGFS, a NBFC operating in deep rural pockets of India, announced that it has raised 8 million Euros from leading European social impact funds, Invest In Visions, Germany (IIV) and Darlehenskasse Muenster, Luxembourg (DKM) as External Commercial Borrowings (ECB).
The company intends to deploy the ECB proceeds for its onward lending program targeted to support their microfinance as well as small business customers in more than 9000 deep rural villages with little or no access to formal means of credit.
The company said it has designed these micro loans to suit the dynamic requirements of customers and potentially enhance their means of livelihood.