MUFG Bank announces additional investment in DMI Finance
Summary
To capture growth in this area, MUFG has been continuously investing in the regions leading digital start-ups and tech firms including the recent investment in Ascend Money in June 2024 and Globe Fintech Innovations in August 2024. Leveraging its cutting-edge technology, the company offers POS loans to customers through partnerships with various external parties. In addition, DMI Finance provides cross-sell loans to customers with a certain level of creditworthiness, which are also made possible through its partnerships. The company has established such a unique business model in Indias digital lending industry and has provided its services to a cumulative total of 15.2 million customers (as of March 2024).In April 2023, MUFG made a strategic investment in DMI Finance. Through this investment, MUFG will further strengthen its platform in Asia and enhance the value of its franchises over the medium to long term, as well as contribute to financial inclusion in the region.