Lakshmikumaran and Sridharan advises micro-savings investment platform

Lakshmikumaran and Sridharan advises micro-savings investment platform

The law firm provided overall transaction counseling to the fintech company

Law firm Lakshmikumaran and Sridharan (LKS) has advised Dvara Holdings and Dvara SmartGold Private Limited to close the funding round of USD 2 million by Axilor Technology Fund I and Dvara Holdings in Dvara SmartGold.

Dvara Smartgold is globally recognized as an emerging fintech company in the 'Savings & Personal Finance' category of Financial Inclusion with Inclusive Fintech 50 Awards 2020. It is engaged in the business of providing micro-saving investment solutions to the financially-integrated households in the country through the uniquely-crafted gold savings plan.

LKS represented Dvara SmartGold in relation to fund-raise and advised Dvara Holdings on its co-investment with Axilor. The law firm provided the company with end-to-end transaction advisory, including the finalization of the transaction documents and closing.

Gaurav Dayal (partner) along with Anmol Jain (associate) and Kartik Chatrath (associate), led the LKS transaction team.

Dayal said, "The investors are now focusing more on fintechs that are specifically geared towards greater financial inclusion, especially in India, where the adoption rate of fintech is one of the highest in the world."

Axilor was represented by IC Universal Legal.

About Lakshmikumaran & Sridharan

It is a premier full-service Indian law firm specializing in areas including corporate and mergers and acquisitions, private equity, dispute resolution, taxation and intellectual property. Through its 14 offices across India, the firm works closely on litigation and commercial law matters, advising and representing clients in India and abroad.

LKS has handled over 30,000 litigation cases before various forums including 2,000 cases before the Supreme Court of India. Over the last 37 years, the firm has worked with over 15,500 clients ranging from start-ups, small & medium enterprises, to large Indian corporates and multinational companies.

The professionals within the firm bring diverse experience to service clients across sectors such as commodities, automobile, manufacturing, healthcare, information technology, information technology-enabled services, fast-moving consumer goods, hospitality, real estate, petrochemicals, e-commerce, fintech, big data, renewables, cryptocurrency, gaming and sports.