New Delhi-based diversified financial services company DMI Group has raised $123 million in equity funding from Tokyo Stock Exchange-listed South Korean gaming company Nexon Co., per media reports.
With the latest round, DMI’s total equity funding stands at over $800 million to date.
The company plans to use the corpus raised to fund balance sheet growth in the digital consumer and small and medium exnterprises (MSME) finance businesses.
In the past 18 months, DMI reportedly has added $343 million of equity money and $350 million from non-convertible debentures (NCDs) bought by overseas investors.
The company recently recently raised $200 million from an overseas investor by issuing NCDs. In January last year, it had raised $230 million in an equity round led by New Investment Solutions (NIS), a Liechtenstein asset management company founded by Takashi Sato.
Founded in 2008 by Shivashish Chatterjee and Yuvraja C Singh, DMI Finance has businesses in corporate lending, affordable housing finance, digital consumer and MSME finance, and asset management. As a credit partner, it offers everything from short-term bridge financing and medium-term project financing to term loans and working capital loans. It has corporate offices in Mumbai and Bangalore, and branch offices pan-India.
As of January 2019, the company has 500+ people across 44 offices and AUM of over Rs 6000 crore. It has reportedly deployed over Rs 15,000 crore in India.
The company has also acquired a housing finance company license, a merchant banking license and is registered an alternate investment fund (AIF), according to its LinkedIn profile.
