Funding round
DMI Finance Growth
Reported as "Growth Equity"
DMI Finance, which works in digital lending solutions in New Delhi, raised $47M in a Growth round announced on 11 Jan 2022, led by Sumitomo Mitsui Trust Bank Limited. 3 firms took part, 2 of them already investors. It is DMI Finance's first venture round on record.
$47M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
DMI Finance did not disclose a valuation in this round. It is DMI Finance's first venture round on record, 14 years after it was founded in 2008. It is 11% of the $447M DMI Finance has raised in the venture rounds on record. DMI Finance raised again 15 months later: a Growth round of $400M in Apr 2023.
DMI Finance's funding rounds
DMI Finance has 2 venture rounds on record. This one is highlighted.
- Growth this round 11 Jan 2022, led by Sumitomo Mitsui Trust Bank Limited $47M
- Growth 3 Apr 2023, led by MUFG Bank $400M
Investors
Who put money in
Sumitomo Mitsui Trust Bank Limited led the round with 2 other firms. New Investment Solutions and NXC had backed DMI Finance before.
Lead investor
- Sumitomo Mitsui Trust Bank Limited new investor
Also in the round
- New Investment Solutions existing investor
- existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
44 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $85M, and this round was 55% of the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Hometap Loans & Financing | 25 Jan 2022 | $245M | not disclosed | not named |
| Loans & Financing | 6 Jan 2022 | $128M | not disclosed | not named |
| Loans & Financing | 24 Jan 2022 | $78M | not disclosed | Autotech Ventures and Clear Haven Capital Management |
| Loans & Financing | 11 Jan 2022 | $34M | $634M | Lightbox |
| Loans & Financing | 18 Jan 2022 | $30M | not disclosed | Resolute Ventures and Social Capital |
| C2FO Loans & Financing | 1 Feb 2022 | $140M | not disclosed | Third Point Ventures |
| Loans & Financing | 15 Dec 2021 | $115M | not disclosed | SoftBank Latin America Fund |
| Loans & Financing | 15 Feb 2022 | $100M | not disclosed | Siam Commercial Bank |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did DMI Finance raise in its Growth round?
DMI Finance raised $47M in its Growth round, announced in Jan 2022.
Who led DMI Finance's Growth round?
Sumitomo Mitsui Trust Bank Limited led it, with New Investment Solutions and NXC.
What was DMI Finance's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Loans & Financing?
44 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $85M, and this round was 55% of the median.
Did DMI Finance raise again after this round?
Yes: a Growth round in Apr 2023 of $400M.