Chennai
Dvara KGFS, an NBFC, which provides access to financial services in remote rural India, has a strong presence in Tamil Nadu, Uttarakhand, Karnataka and Odisha. Its operations are spread across 33 districts with 221 branchescatering to a customer base of over 8.4 lakh. Varam Capital, which has digital and data science capabilities in line with KGFS’s strategy, has a significant presence in the state and Chhattisgarh.
Samir Shah, Executive Vice Chair & Group President of Dvara Trust, said, “We aim to grow geographically and continue to build a strong digital platform and data science architecture that helps us understand our remote rural customers better.” He added, “The portfolios of both the institutions complement with the current planned growth of Dvara KGFS. They help us to diversify within Tamil Nadu and outside in our chosen markets. The deal is funded from the strong balance sheet of Dvara KGFS.”
Joby CO, CEO, of Varam Capital said, “Our priority is to build expertise to develop multi product offering, focus on the Micro Enterprise Loan and affordable housing segments.”
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