Changing the face of financial inclusion in India


Diversified Financial Services





2.1 0 m+

People reached

$ 13 0 bn

Finance enabled

240,000 0

Savings accounts opened

Indian financial services innovator Dvara invests in and operates businesses across India, with a mission to make financial services accessible to all individuals and enterprises.

Dvara 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.

These services include savings, micro-loans, small business finance, affordable housing, commercial vehicle finance, credit, insurance and pensions.

LeapFrog’s investment in Dvara is helping to accelerate its ground-breaking financial inclusion work across India.

Together, we’re working to further develop Dvara’s innovative business models and new products to meet the vast opportunity of reaching emerging consumers.

In 2020, LeapFrog worked with Dvara across several fronts to improve the experience of its customers, leading to a three-fold improvement in micro-loan disbursements to India’s financially excluded.

By working with LeapFrog to map out the journey of its small business customers, Dvara came to understand what improvements were needed and was able to scale up its micro-enterprise loan product. Once improvements were implemented, Dvara’s disbursements significantly increased, reducing the impact of COVID-19 on its own financial performance.