DMI Finance

What DMI Finance does

DMI Finance Private Limited is a New Delhi-headquartered, RBI-registered non-banking financial company founded in 2008, operating a digital lending platform that serves retail individuals and micro, small and medium enterprises (MSMEs) across 28 Indian states, with approximately 20 million cumulative customers. Its product portfolio spans unsecured personal loans (up to Rs 8 lakh, from 13.99% p.a.), collateral-free MSME business loans (up to Rs 25 lakh, from 15.99% p.a.), consumption loans, and secured products (Loan Against Property, Loan Against Security, Electric Vehicle loans), plus the co-branded DMI RBL credit card and embedded consumer financing via the Samsung Galaxy Forever programme.

The underlying technology is an end-to-end digital origination stack — e-KYC, digital document upload, OTP-based e-signature, and NACH auto-debit mandates — fronted by a customer mobile app with 6.2M+ Google Play installs, a self-serve website, EMI and eligibility calculators, and a dealer partner portal. The firm extends its reach through dealer partners, bank co-lending arrangements, direct sales, and OEM embedded-finance partnerships (notably Samsung). Group structure includes wholly-owned subsidiaries for housing finance (DMI Housing Finance), wallets/prepaid cards (Appnit Technologies / Oxymoney), BNPL (ZestMoney), technology (Glimmer Technologies), a payments entity (OKAS), and an investment vehicle (The Sparkle Fund).

The revenue model is primarily interest income from on-book lending, supplemented by co-lending and distribution fees from bank partners and by managed-services/device-lifecycle fees from the Samsung Finance+ embedded programme. DMI Finance has disclosed $1.1 billion+ in cumulative equity funding led by Japanese megabanks MUFG and Sumitomo Mitsui Trust Bank, holds an AA credit rating from ICRA, and was named an ET Future Ready Organisation in the Small & Mid-Size category. The company is currently navigating the aftermath of an October 2024 RBI lending ban over usurious pricing, which was lifted in January 2025 and contributed to a 45% YoY decline in FY26 sales to Rs 1,700.64 crore alongside a Rs 106.56 crore full-year net profit recovery.

Name

DMI Finance

Legal name

DMI Finance Private Limited

Website

https://www.dmifinance.in

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

DMI Finance is a New Delhi-headquartered digital NBFC offering personal loans, MSME business loans, consumption loans, secured lending, and a co-branded credit card to retail borrowers and small businesses across India, serving approximately 20 million customers through its digital platform and embedded financing partnerships including Samsung Galaxy Forever.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services (Digital Lending)

NAICS

Sales Financing (52222), Sales Financing (522220)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Digital lending platform
• Consumer finance services
• MSME business loans
• Personal loan provider
• Non-banking financial company

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Lending: DMI Finance earns interest income by lending to retail borrowers (personal loans, consumption loans) and MSMEs (business loans). It also offers secured products including Loan Against Property, Loan Against Security, and Electric Vehicle loans. Revenue is generated through the spread between the interest rate charged to borrowers and the cost of funds.
2. Co-lending and Distribution Fees: DMI Finance acts as a sourcing and servicing partner for co-lending arrangements with banks and financial institutions, earning origination or distribution fees on loans booked through these partnerships.
3. Samsung Finance+ Programme: Embedded financing partnership with Samsung for Galaxy Forever ownership programme, providing buyback guarantee infrastructure and enabling DMI Finance to earn fees on device financing.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

DMI Finance is a non-banking financial company (NBFC) that provides digital lending solutions to retail consumers and micro, small and medium enterprises (MSMEs) in India. Its product portfolio spans unsecured personal loans, MSME business loans, consumption loans, secured loans (loan against property and loan against securities), electric vehicle financing, and a co-branded credit card with RBL Bank. The company also operates an Oxymoney prepaid card/wallet and a housing finance subsidiary offering home loans.

Product overview

DMI Finance is a digital lending NBFC operating a multi-product portfolio across consumer and business finance segments. The core offerings include unsecured personal loans, MSME business loans, and consumption loans, supplemented by secured lending products such as Loan Against Property, Loan Against Security, and Electric Vehicle Loans. The company extends its reach through strategic partnerships including the DMI RBL Credit Card (with RBL Bank) and Samsung Galaxy Forever financing program. Digital operations are centralized through the DMI Finance App (6.2M+ installs) and online portals, while customer engagement is enhanced via Plus by DMI rewards program. The company's product portfolio has been expanded through acquisitions including Appnit Technologies (Oxymoney wallet services) and ZestMoney (BNPL platform), with additional group entities including DMI Housing Finance, The Sparkle Fund, OKAS, and Glimmer Technologies. Founded in 2008 and headquartered in India, DMI Finance serves approximately 2 crore customers across 28 states with a technology-led approach to digital retail lending.

Differentiator

Problem solved

Functional benefit

Brands

• Oxymoney: Prepaid card and wallet services brand offering payment solutions, money transfers, and utility bill payments
• DMI Housing Finance
• Plus by DMI
• DMI RBL Credit Card
• Samsung Finance+
• Galaxy Forever

Products and services

• Personal Loan Unsecured personal loan product for salaried and self-employed Indian consumers, disbursed via the DMI Finance digital platform with fully online processing.
• MSME Business Loan

Quantifiable outcome

• Loan disbursement within 24–72 hours of final approval
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered supporting and core.

• OolkasupportingTechnology or Integration · 30 April 2026Oolka, an AI agent platform for consumer finance in India, has a live partnership with DMI Finance among other lenders (IDFC FIRST Bank, L&T Finance, DSP Finance, InCred). Oolka uses AI agents to assist consumers with credit applications and financial decision-making, integrating with DMI Finance's lending platform.
• Samsung IndiacoreOEM/ Whitelabel/ Licensing Partner · 19 March 2026Samsung partnered with DMI Finance for the Galaxy Forever ownership programme, enabling customers to purchase Galaxy S26 Ultra and Galaxy S26 Plus smartphones by paying only 50% of the device cost through 12 no-cost EMIs, with a 50% assured buyback guarantee. DMI Finance provides the buyback and upgrade financing infrastructure, with the programme available across Samsung.com and 1,500+ Samsung Experience Stores.
• Appnit Technologies (Oxymoney)coreStrategic or Co-development Partner · 28 March 2022DMI Finance acquired a controlling stake in Appnit Technologies in March 2022, making it a subsidiary. Appnit operates the Oxymoney digital wallet and prepaid card brand, offering money transfers, utility bill payments, and other payment services across India. The acquisition expanded DMI Finance's offerings into wallet-based prepaid products.
• ServifysupportingImplementation/ SI/ Consulting PartnerServify partnered with Samsung and DMI Finance to power the device protection and buyback infrastructure for the Galaxy Forever programme, providing Samsung Care+ protection and device lifecycle management.
• RBL BanksupportingChannel Partner/ Reseller/ DistributorDMI Finance offers the DMI RBL Credit Card, a co-branded credit card issued in partnership with RBL Bank, extending credit access to DMI Finance's customer base through RBL Bank's card infrastructure.
• Co-lending PartnerssupportingChannel Partner/ Reseller/ DistributorDMI Finance operates co-lending partnerships with banks and financial institutions, sourcing and servicing loans through shared risk and origination models. These partnerships extend DMI Finance's distribution reach and diversify its funding base.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bajaj Finance: India's largest diversified NBFC with deep consumer and MSME lending franchises, including personal loans, business loans, and EMI cards. Highly comparable as a digitally distributed, multi-product Indian NBFC serving similar retail and MSME borrower segments.
• KreditBee: India-headquartered digital lending platform focused on personal loans to salaried and self-employed individuals via a mobile-first app. Closely comparable to DMI's core D2C personal loan product and digital distribution model.
• Lendingkart: Indian digital NBFC providing collateral-free working capital and term loans to MSMEs. Directly comparable to DMI's MSME business loan product in terms of target customer, ticket size, and digital underwriting.
• Fibe (formerly EarlySalary): Indian digital lending platform offering salary advances and personal loans via mobile app to salaried professionals. Comparable to DMI's salaried/individual personal loan business and consumer-facing digital funnel.
• MoneyTap: Indian digital personal line-of-credit and consumer loan platform. Comparable to DMI's unsecured personal loan offering and direct-to-consumer mobile-led acquisition model.
• IIFL Finance: Large Indian NBFC with personal loans, MSME loans, gold loans, and home loans, plus a fintech arm (IIFL Samasta). Comparable as a multi-product Indian NBFC serving overlapping retail and MSME segments.
• Muthoot Fincorp: Indian gold-loan-focused NBFC that has expanded into personal and MSME lending. Comparable as a pan-India NBFC serving underbanked retail borrowers with similar distribution-led origination.
• PaySense (now LazyPay): Indian consumer credit and BNPL platform offering personal loans and pay-later products via digital channels. Comparable to DMI's personal loan and BNPL offerings (ZestMoney acquisition).
• Manappuram Finance: Indian NBFC with diversified lending including gold, microfinance, MSME, and consumer finance. Comparable as a large Indian NBFC with a multi-product retail and small-business book.

Broad incumbents

• HDFC Bank: India's largest private sector bank offering personal loans, business loans, credit cards, and digital lending. Comparable as a dominant incumbent in DMI's core retail/MSME lending categories with a digital channel.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/DMIFinance
• YouTubeyoutube.com/channel/UChmYdnDeblQSgqR_pybUiUA
• Facebookfacebook.com/DMIFinancePvtLtd
• LinkedInlinkedin.com/company/dmi-finance-private-limited
• Instagraminstagram.com/dmifinancepvtltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds6 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DMI Finance