# Dvara SmartGold Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dvara-smartgold-private

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.dvarasmartgold.com
- Total disclosed funding: $2M
- Latest round: Seed (Feb 7, 2022)
- Investors on record: 2

## About

Based in Maharashtra, India, and founded in 2019 by its CEO, Jaydeep Banerjee, and co-founders, Sanjeev Agarwal and Samir Shah, Dvara SmartGold Private Limited is part of a conglomerate called Dvara Trust, formerly called IFMR Trust. It operates as an investment service provider to financially integrate households through a gold savings plan. In February 2022, Dvara SmartGold Private Limited raised USD 2 million in seed funding co-led by new investors Axilor Ventures and Dvara Holdings. As of April 2022, the company serves over 70,000 customers.

Dvara SmartGold Private Limited offers micro-saving plans in gold through instruments like Systematic Investment Plans (SIPs) wherein customers can invest as per their cash availability and utilize their savings at any point of time as per their requirements. The company also provides an interactive digital platform that offers insights and information to customers and has various features such as setting saving goals, redeeming gold locker balances, buying gold on customer's behalf at competitive gold rates, securely storing and safeguarding gold, and offering a range of options to convert the accumulated locker balance into cash, coins, jewelry, and short-term loans. In addition, it allows the customer to take physical delivery of gold or bars anytime and on as many occasions.

Dvara SmartGold Private Limited will use the seed funding to expand across India's footprint for micro-savings and introduce other financial products centered on gold.

## Funding rounds

- Seed, Feb 7, 2022, $2M — Axilor Ventures, Dvara Holdings

## Investors

- Axilor Ventures (https://capitalatlas.ai/funds/axilor-ventures) — Seed
- Dvara Holdings — Seed