India’s DMI Finance lands a further $334m investment from MUFG
DMI Finance, the New Delhi-based digital lending arm of India’s DMI Group, has secured a $334 million equity investment from Japanese financial services heavyweight Mitsubishi UFJ Financial Group via its subsidiary, MUFG Bank.
DMI Finance bags $334 million investment
Founded in 2008, DMI Finance is a non-banking financial company (NBFC) and acts as an embedded finance partner to growing Indian businesses, providing a range of credit solutions to corporate borrowers across the country. It currently claims to serve 25 million customers and disbursed over $2.25 billion in FY 2024.
The company’s offerings include short-term bridge financing, working capital solutions, and loans for micro, small, and medium-sized enterprises (MSMEs).
MUFG previously led a $400 million equity funding round in DMI Finance back in April 2023. Its latest cash injection increases its total investment in the company to around $565 million.
Masakazu Osawa, managing executive officer and chief executive for Asia Pacific of MUFG Bank, states that since the firm’s first investment in DMI Finance, the two companies have “been developing a robust collaboration agenda from various angles which includes business collaborations with MUFG group companies and portfolio companies, provision of MUFG’s financial solutions, and knowledge sharing”.
“Through our additional strategic investment in DMI, we aim to further capture the growth of the digital finance market in India, deepen collaboration with MUFG, as well as contribute to financial inclusion in the country by supporting DMI’s growth,” concludes Osawa.
