Indian lending firm DMI Finance has reeled in $47m in equity investment from new investor Sumitomo Mitsui Trust Bank.
Following this recent round, DMI’s total equity base has climbed to $500m. Sumitomo joins existing investors of DMI such as NXC Corporation and New Investment Solutions.
Founded in 2008, DMI offers short-term bridge financing and medium-term project financing as well as term loans and working capital loans. The company also supports select Fintech companies as a balance sheet partner.
The company claims it has a ‘full-stack digital lending and loan lifecycle management platform’ and has a customer base of more than six million. It anticipates at least 10% month-on-month growth in 2022.
A DMI spokesperson said, “We are in the early stages of what is already an incredible period of building India’s digital financial ecosystem.”
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