Funding round
DMI Finance Growth
Reported as "Growth Equity"
DMI Finance, which works in digital lending solutions in New Delhi, raised $400M in a Growth round announced on 3 Apr 2023, led by MUFG Bank. 2 firms took part, 2 of them already investors. It is DMI Finance's second venture round on record; the one before was a Growth in Jan 2022.
$400M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
DMI Finance did not disclose a valuation in this round. It came 15 months after DMI Finance's Growth. It is 89% of the $447M DMI Finance has raised in the venture rounds on record. No later venture round is on record for DMI Finance.
DMI Finance's funding rounds
DMI Finance has 2 venture rounds on record. This one is highlighted.
- Growth 11 Jan 2022, led by Sumitomo Mitsui Trust Bank Limited $47M
- Growth this round 3 Apr 2023, led by MUFG Bank $400M
Investors
Who put money in
MUFG Bank led the round with 1 other firm. MUFG Bank and Sumitomo Mitsui Trust Bank had backed DMI Finance before.
Lead investor
- MUFG Bank existing investor
Also in the round
- Sumitomo Mitsui Trust Bank 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
34 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $59M, and this round was 6.8 times the median. The closest in time, other companies' Growth rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 5 Apr 2023 | $30M | not disclosed | Accion |
| Loans & Financing | 15 May 2023 | $37M | not disclosed | Sumitomo Corporation |
| Loans & Financing | 22 Mar 2023 | $32M | $253M | Kingsway Capital |
| Loans & Financing | 4 May 2023 | $25M | not disclosed | not named |
| MNT-Halan Loans & Financing | 1 Feb 2023 | $400M | $1.00B | Chimera Abu Dhabi |
| Teylor Loans & Financing | 12 Jun 2023 | $296M | not disclosed | not named |
| Loans & Financing | 8 Feb 2023 | $20M | not disclosed | SCBX and Lombard Asia |
| Loans & Financing | 9 Jul 2023 | $146M | not disclosed | Multiples |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did DMI Finance raise in its Growth round?
DMI Finance raised $400M in its Growth round, announced in Apr 2023.
Who led DMI Finance's Growth round?
MUFG Bank led it, with Sumitomo Mitsui Trust Bank.
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?
34 Growth rounds in Loans & Financing within a year either side disclosed an amount; the median was $59M, and this round was 6.8 times the median.