India-based financial services company DMI Finance has announced the closer of a USD 400 million equity investment round led by Mitsubishi UFJ Financial Group . DMI Finance is a pure-play digital lender with products including consumption, personal, and MSME loans.

It leverages technology to optimise every step in the lending stack, from sales and underwriting through to customer service and collections. The company sources and services customers through multiple digital channels – in particular it is an embedded digital finance partner of choice for businesses including Samsung, Google Pay, and Airtel which work with DMI Finance to provide diverse financial products to their customers across India. DMI’s operations in India DMI Finance covers 95% of India's pin codes and has an accessible customer base of 25 million which is expected to grow to 40 million+ in FY24.

It is projected to disburse over USD 2. 5 billion in FY24 across products. DMI Finance’s officials said that powered by digital infrastructure, India is in the midst of an unprecedented transformation.

DMI Finance aims to be the trusted partner for Indian households and small businesses in addressing their rapidly growing financial needs. They are happy to welcome MUFG and SuMi TRUST Bank on this pioneering mission, on which they embarked in 2016, of providing credit in real time to their clients. Potential for growth DMI Finance noted that the Indian financial market has huge potential for growth over the next decade (or two) and are fortunate to have the strategic investors that they do, who share values and long-term vision.

There is a large underserved population when it comes to financial services in India, and it is their goal to promote financial inclusion and support this market. Representatives of MUFG, a participating investor, explained that for them, Asia is a significantly important and second home market, and India is one of their most expected growing markets with the rapid population growth and foundation of digital infrastructure, showing a strong trend and potential of expansion on digital financial services to the unbanked customers. they strongly believe that DMI Finance has been building up a robust and distinguished business model with external partnership based on the power of its cutting-edge technologies.

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