DMI Finance Raises $47M Equity Investment from Sumitomo Mitsui and Others

Delhi-based DMI Finance Private Ltd (DMI Finance) has raised $47 million (Rs 352 crore) in equity investment from Sumitomo Mitsui Trust Bank Ltd and others to support the company’s growth plans .

DMI Finance, lender since 2009, is the non-banking financial company of the DMI Group. The equity raised by DMI Finance brings its total equity base to $500 million. SuMi TRUST Bank joins existing DMI Finance investors including New Investment Solutions and NXC Corporation.

DMI, in a statement, said it has a comprehensive digital lending and loan lifecycle management platform. And has a pan-India customer base of over 6 million which is expected to grow by at least 10% month-on-month through 2022. DMI has loan partnerships with over 25 companies including partnerships defining categories with Samsung and Reliance Retail. Its products include personal loans, lines of credit, BNPL, OEM finance and MSME loans.

SuMi Trust Bank is Japan’s largest trust bank with 224 trillion yen ($1.95 trillion) in assets on deposit and 87 trillion yen ($760 billion) in assets under management. SuMi TRUST Bank provides a wide range of services relating to commercial banking activities, asset management and administration, and asset disposal, along with trustee activities.

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