DMI Finance Raises $400 Mn From Japan’s MUFG Bank, SuMi TRUST Bank

DMI Finance Raises $400 Mn From Japan’s MUFG Bank, SuMi TRUST Bank

SUMMARY

Founded in 2008 by Shivashish Chatterjee and Yuvraja C Singh, DMI Finance is a pure-play digital lender

The current round takes the total funding raised by DMI Finance to $900 Mn, having last raised $47 Mn last year

The NBFC claims to cover 95% of India's pin codes and has an accessible customer base of 25 Mn

Mumbai-based DMI Finance has raised $400 Mn in a funding round led by Mitsubishi UFJ Financial Group, through its subsidiary MUFG Bank. Existing investor Sumitomo Mitsui Trust Bank (SuMi TRUST Bank) also participated in the funding round. DMI said the round included both primary and secondary transactions.

The investment comes after DMI Finance raised $47 Mn from SuMi TRUST Bank, NXC Corporation and New Investment Solutions in January 2022. The current round takes the total funding raised by the non-banking financial company (NBFC) to $900 Mn.

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