Dvara SmartGold Raises $2 Million In Pre Series A The funds will be used to expand pan India footprint for micro-savings and introduce various products with gold as the fulcrum

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Dvara SmartGold, a micro-savings fintech, has raised $2 million in a pre-Series A round.

Set up in 2019, Dvara SmartGold's vision is to allow customers to save in a familiar asset class. It helps households create a financial safety net seamlessly and digitally. Customers have the option to utilize their savings at any time, during times of an emergency or fulfill a short-or long-term life goal at their convenience. The vision is to build a full stack financial services offering, anchored around gold as an asset class, said a statement.

"We are delighted and looking forward to receiving deeper insights from the leadership team at Axilor to enhance our product offering and create new pathways of growth for customers. Dvara SmartGold currently has in excess of 70,000 customers and the capital raised will be used to expand pan India footprint for micro-savings and introducing various products with gold as the fulcrum. As part of Dvara's larger financial inclusion mission we aim to provide each underserved household in the country, access to relevant financial services that will help in giving them financial independence and respect in society," said Jaydeep Banerjee, interim CEO of Dvara SmartGold.

Dvara SmartGold is a portfolio company of Dvara Holdings (formerly Dvara Trust) and part of the Dvara Venture Studio cohort that supports entrepreneurs working towards large-scale systemic change in financial inclusion. Dvara Holdings has been pioneering initiatives that have impacted the financial lives of millions of low-income households in India, through policy research and investing in/supporting commercial efforts where there is a significant market gap, added the statement.

Wavy Line
Shrabona Ghosh


A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 

Related Topics


5 Traits and Characteristics of Successful Entrepreneurs in 2023

Entrepreneurship has become the new trending topic in the business world. In 2023, the entrepreneurial world is expected to flourish more than ever, and it will take a certain set of skills to be a successful entrepreneur. This article highlights what it takes to be a successful entrepreneur in 2023.

Growing a Business

10 Growth Strategies Every Business Owner Should Know

Effective growth strategies are vital for businesses aiming to achieve sustainable growth and long-term success.

Business News

After Being Told They Could Work From Home Forever, Employees Made Major Life Changes. Then, a New CEO Ordered Them Back to the Office.

Farmers Group CEO Raul Vargas is facing backlash for the change, but he says being in the office brings more "collaboration" and "innovation."

Growing a Business

14 Easy Ways to Rank Your Website Higher on Google

Despite Google's algorithm and regular updates, you can quickly boost your website's ranking with these tips.

Business News

Google Wants Employees Back in the Office, Considering 'Attendance' in Performance Reviews

In an email, a Google executive reportedly told employees that many new features and products unveiled during Google's developer conference last month were "conceived, developed, and built by teams working side by side."

Growing a Business

How to Grow Your Business With Social Media

Miriam Fried, owner of MF Strong, shares why a solid online presence, including social media and Yelp, is important for starting a business and achieving continued growth.