GSK Velu-backed Stakeboat leads Series E funding round in Dvara KGFS

Financial inclusion services provider Dvara Kshetriya Gramin Financial Services Pvt. Ltd (Dvara KGFS) has raised Rs 97 crore ($14 million) in a Series E funding round.

Stakeboat Capital led the new round with LeapFrog Investments and parent Dvara Trust also participating, Dvara KGFS said in a statement.

Stakeboat is a private equity firm co-founded by serial entrepreneur GSK Velu while LeapFrog is an investment firm that focuses on emerging markets.
Dvara KGFS said it will use the money to enter new markets and improve its digital infrastructure to provide better services to its clients.

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