Digital lender DMI Finance raises $334-M from Japan’s MUFG

Japan’s Mitsubishi UFG Financial Group (MUFG), through its subsidiary MUFG Bank , has invested INR 2,798 crore (USD 334 million) in Delhi-based digital lending company DMI Finance Pvt Ltd . The latest investment brings the total investment by MUFG in DMI Finance to INR 4,712 crores (approximately USD 565 million) adding to the USD 400 million invested in the company last April.DMI Finance offers loans to individuals and micro and small enterprises. The company claims to have disbursed more than INR 18,000 crore of loans for the fiscal ended March 2024. DMI Finance sources and services customers through multiple digital channels including Samsung, Google Pay and Airtel. It claims to have a customer base of 2.05 crore.