Delhi-based diversified financial services DMI Group has raised $230 Mn (INR 1,619.4 Cr) in a fresh funding round led by New Investment Solutions, an asset management company.

The company plans to use the fresh funds to fund balance sheet growth of DMI Finance and DMI Housing Finance. Amicus Services acted as DMI’s legal counsel on this transaction.

Takasahi Sato, founder of NIS, said, “The DMI team is so incredible that they have been performing beyond our expectations since we first partnered with DMI in 2010. We trust the team to take advantage of all the growth opportunities with deep insight that India offers in financial services. They maintain a firm handle on risk and an organisational focus on transparency and ethical conduct.”

Source: Inc42