IFMR Rural Channels & Services promotes the KGFS model, offering a broad portfolio including group loans, retailer loans, asset-backed loans, microenterprise and emergency loans, insurance (accident, life, livestock), pensions, savings, remittances and investment products. The IFMR Trust is related to the Chennai-based Institute for Financial Management and Research and began promoting the KGFS model in 2008. IFMR operates entirely from branches and has 110 branches across Tamil Nadu, Uttarakhand and Orissa, serving around 200,000 customers. The company plans to use new capital to ramp up KGFS, diversify its portfolio of services and products, and expand the KGFS model to other remote rural locations across the country in a phased manner. The KGFS approach emphasizes designing a financial plan for each household and branch-based operations to mitigate risks seen in other microcredit models. IFMR received its first external funding to support these growth and diversification plans.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2016