DMI Finance Announces The Closure Of A USD 400 Million Equity Investment Round Led By Mitsubishi UFJ Financial Group, Inc.

Amicus Advocates and Solicitors acted as legal counsel to DMI Finance Private Limited (part of DMI Group) The transaction at Amicus Advocates and Solicitors was led by managing partner, Shivi Rastogi.

DMI Finance is a pure-play digital lender with products including consumption, personal and MSME loans. It leverages technology to optimize every step in the lending stack, from sales and underwriting through to customer service and collections.

DMI Finance sources and services customers through multiple digital channels – in particular it is an embedded digital finance partner of choice for leading businesses including Samsung, Google Pay and Airtel which work with DMI Finance to provide diverse financial products to their customers across India.

DMI Finance covers 95% of India's pincodes 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 is AA- rated by ICRA and supported by leading Indian and international banks.

About the DMI Group

DMI Finance is a Systemically Important Non-Banking Financial Company and part of the DMI Group. Founded in 2008 and supported by a deeply experienced team across 40+ offices in India, the DMI Group is a pan-India financial services platform with core businesses in digital finance, housing finance and asset management. It has raised over USD 1.5 billion of equity investment and is supported by global institutional investors, strategic family offices and leading Indian and international banks.

About Mitsubishi UFJ Financial Group, Inc. (MUFG)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our clients, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

About Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank)

Established in 1925, SuMi TRUST Bank is Japan's largest trust bank with JPY 224 trillion (~USD 1.95 trillion) of custody assets and JPY 87 trillion (~USD 760 billion) of assets under management. SuMi TRUST Bank provides a wide range of services concerning commercial bank business, asset management and administration, and disposal of assets, with trustee business such as pension trusts and investment trusts, and complementary businesses such as real estate brokerage and stock transfer agency services. SuMi TRUST Group's purpose is "Creating new value with the power of trusts and letting prosperous futures for clients and society bloom" and is promoting initiatives to achieve both social value creation and economic value creation.