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Exclusive: DMI Finance hits last lap to raise capital for fintech arm

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Non-banking finance company DMI Finance Pvt. Ltd is in the final stages of talks to raise a fresh round of equity capital to roll out its digital lending arm, a top executive told VCCircle.  DMI Finance, founded by former Citigroup executives Shivashish Chatterjee and Yuvraj C Singh, mainly offers secured loans to corporate clients. Over the past 15 months, however, it has started providing retail loans by tying up with several online loan aggregators. The company will now transfer its retail book to unit DMI Consumer Credit Pvt. Ltd, which is likely to get an NBFC licence in a few...

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