MUFG Bank invests over $230m in Indian fintech DMI Finance

It has serviced over 11 million customers as of end-2022.

MUFG Bank is investing INR19.1b (over $231.7m) in India-based digital fintech company DMI Finance.

DMI Finance is a non-babk financial company (NBFC) focusing on consumer digital lending in India. It is positioned to become an important NBFC player in India, MUFG Bank said in a press release announcing its investment.

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The fintech is noted for having a partnership model, providing fully digitalized personal loans and POS loans where the entire application and origination process is completed online within partners’ ecosystems. 

As of December 2022, DMI Finance has provided credit to a cumulative total of 11 million customers.