Dvara KGFS, a non-deposit taking NBFC, has raised €8 million from Invest In Visions, Germany (IIV) and Darlehenskasse Muenster, Luxembourg (DKM) in external commercial borrowings.
The company plans to deploy the proceeds to fund its microfinance and micro- enterprise customers with little or no access to formal means of credit, the company said in a statement.
"There are a variety of small business that we fund in more than 9,000 deep rural villages, which includes retail shops, small dairies, agri entrepreneurs and this would help customers to restart their businesses, post covid,” said Joby CO, CEO.
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