DMI Finance announces the closure of a USD 400 million equity round

Sumitomo Mitsui Trust Bank Limited (“SuMi TRUST Bank”), an existing investor, participated in the USD 400 million equity investment round that was led by Mitsubishi UFJ Financial Group, Inc. through its consolidated subsidiary MUFG Bank, Ltd. (“MUFG”), according to a press release from DMI Finance Private Limited (“DMI Finance”). Both primary and secondary deals are part of this round.

Consumption, personal, and MSME loans are among the products DMI Finance offers, a pure-play digital lender. Every stage of the lending stack, from sales and underwriting to customer service and collections, is optimized via technology.

DMI Finance gathers consumers through various digital channels, offering them different financial solutions across India. In particular, it is a preferred integrated digital finance partner for top companies like Samsung, Google Pay, and Airtel.

Ninety-five percent of India’s pin codes are covered by DMI Finance, which now has 25 million active customers and is projected to reach 40 million or more by FY24. In FY24, it is anticipated to distribute about USD 2.5 billion across items.

According to Shivashish Chatterjee, co-founder and joint managing director of DMI Finance, India is going through an unparalleled transition. This revolution is being supported by world-class digital infrastructure. To meet the constantly expanding financial demands of Indian households and small enterprises, DMI Finance aspires to become a dependable partner. We are excited to join MUFG and SuMi TRUST Bank in this innovative goal of offering loans in real time to our customers, which we started in 2016. We appreciate their demonstration of faith in our team’s capability to provide excellent results for our clients and investors.

“We feel that the Indian financial industry has great potential for expansion over the next decade (or two), and are lucky to have the strategic investors that we have, who share our principles and long-term vision,” stated Yuvraj C. Singh, Co-Founder and Joint Managing Director of DMI Finance. In India, a sizable population is underserved by financial services; our mission is to advance financial inclusion and assist this market. Our investors and we must be philosophically and strategically in sync for all stakeholders to have a pleasant experience working with DMI, which is essential to us.

Part of the DMI Group, DMI Finance is a Systemically Important Non-Banking Financial Firm.

The DMI Group was established in 2008 and is a pan-India financial services platform with primary operations in digital finance, home finance, and asset management. It is supported by a highly skilled staff working across 40+ locations across India. Leading Indian and international banks, strategic family offices, and global institutional investors back it. It has raised approximately USD 1.5 billion in equity investment.

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