MUFG to invest INR28bn in DMI Finance.

MUFG, a global financial services group and one of the largest banking institutions in Japan, agreed to invest INR28bn in DMI Finance, a digital financial services business in India. In the Asia-Pacific, which MUFG considers its second home market, there is an accelerating trend of digital financial service providers leveraging the latest technology developments to offer financial services to unbanked or underbanked consumers and SMEs. To capture growth in this area, MUFG has been continuously investing in the region’s leading digital start-ups and tech firms including the recent investment in Ascend Money in June 2024 and Globe Fintech Innovations in August 2024. MUFG has also launched the “MUFG Openly-connected Digital Ecosystem” (MODE), an initiative to form a digital ecosystem aimed at knowledge sharing and value-increasing activities among companies MUFG invests in.