With An Integrated ‘Tech-Only’ Approach, DMI Finance Is Revolutionising Lending In India

We all know the importance of credit for startups and MSMEs in India. Today, new-age non-banking finance companies (NBFCs) such as DMI Finance are filling the gap in credit availability for MSMEs and startups in India by becoming their go-to balance sheet partners.

DMI Finance, which focuses on consumer and corporate lending is the NBFC arm of the financial services platform, The DMI Group which is closing in on ten years of operations.

With a digital-only approach, DMI Finance’s consumer and SME lending operation gives fintech startups API access to sandboxes, thus helping them to develop bespoke financial products.

By embracing a partnership model rather than a winner-take-all competitive model, DMI has successfully coalesced a diverse lending ecosystem into a coherent platform. Here technology companies specialising in AI and ML, digital marketing companies specialising in customer acquisition, alternative credit scoring entities that focus on understanding the New-to-Credit borrower and balance sheet lenders come together to create bespoke financial product offerings for the mobile-first, economically aspirational, 500mm strong Indian middle and lower middle classes.

At present, DMI has 38 live partners with ongoing discussions with another 15.

All the partnerships are heterogeneous in nature and 80% of DMI’s partners are developing bespoke credit solutions across diverse borrower populations. The products include student loans, consumption loans, healthcare loans, consumer durables, SME working capital loans and more. The partners act as front-end demand aggregators and solve the problems of customer UI/UX and brand awareness while DMI acts as the credit underwriter and balance sheet partner.

With partnerships that span small fintech startups, large digital wallets, international household names in consumer electronics and several other new-generation tech-first NBFCs, DMI is proudly enabling its collaborators to launch a revolution in consumer and SME finance.