Just over a year after leading a $400 million financing round for DMI Finance, Japanese financial giant MUFG has announced an additional investment of 27.99 billion rupees (approximately $333 million), making it the second-largest shareholder in the company.
DMI Finance, a leading digital lender in India, leverages its proprietary technology to provide point-of-sale (POS) loans to customers through partnerships with major external parties such as Samsung, Google Pay, and Airtel. By targeting India’s vast underbanked population, DMI Finance has already served over 15 million customers. The new funding from MUFG will be used to expand the company’s balance sheet and scale its operations.
This investment is part of MUFG’s broader strategy to strengthen its presence in the Asia Pacific region’s fintech sector, particularly in markets with significant underbanked populations. The company has recently invested in several other fintech firms across the region, including Thailand’s super-app Ascend Money, Singapore’s Grab, Indonesia’s Akulaku, and the Philippines-based mobile payment and credit service Mynt.
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