Dvara Trust

65 mil


$13 bil


207 mil


Dvara Trust

Indian financial services innovator Dvara Trust is creating an ecosystem to reach households and businesses previously excluded from financial services, and pool and distribute this risk across a broad base of large investors. In doing so, it is changing the face of financial inclusion in India, where banking and insurance penetration remain low. 

Dvara Trust invests in, operates and incubates financial services companies in India with significantly scalable business models that make a game-changing impact on their mission of access to financial services. Some of these include Northern Arc Capital (previously IFMR Capital) – a debt capital markets platform offering micro-loans, small business finance, affordable housing and commercial vehicles finance, and Dvara KGFS, a credit, insurance and pensions provider in rural and remote India.


Diversified Financial Services



The LeapFrog Difference

Having earlier invested in IFMR Holdings subsidiary Northern Arc Capital (previously IFMR Capital), LeapFrog invested in Dvara (formally IFMR Holdings) in 2015. Our investment will accelerate its ground-breaking financial inclusion work across India, helping Dvara Trust to further develop its innovative business models and new products to meet the vast opportunity of reaching emerging consumers with a wide range of empowering financial tools. 

Financial Services

Dvara Trust is one of many financial services companies we have invested in. Learn more about the other innovative and impactful businesses LeapFrog has partnered with. 

LeapFrog Investments