Dvara KGFS has raised Rs. 70 crore from Nordic Microfinance Initiative (NMI) in the final phase to the Series E round of equity infusion, reported ET.

Saraqua Legal acted as legal counsel to Dvara KGFS with a team led by Managing Partner, Priyanka Roy.

VERTICES PARTNERS represented NMI, with a team led by Managing Partner, Vinayak Burman.

Dvara KGFS has a presence in Tamil Nadu, Uttarakhand, Karnataka, Chhattisgarh, Odisha and Jharkhand. It is spread across 46 districts with 276 branches and more than 1 million enrolled customers.

NMI is a public-private partnership owned by the Norwegian and Danish governmental funds for developing countries that invest in microfinance institutions in Asia and Africa.