PE-VC Fund Investments
Digital lender Optimo Capital raises Rs.150-Cr led by founder Prashant Pitti
Bengaluru-based digital lending platform Optimo Capital has raised INR 150 crore in a Series A round led by founder Prashant Pitti (also co-founder of EaseMyTrip), with participation from existing investors Blume Ventures and Omnivore. The company has also raised INR 110 crore in debt from IDFC First Bank and Axis Bank.Founded in 2023, Optimo offers digital loans against property (LAP); it claims to issue in-principle sanction letters in 2 hours & disbursement in 48 hours through its LAP product . It currently operates in 17 branches across Karnataka, Tamil Nadu, Andhra Pradesh and Telangana.The fresh funding will be used by the company to strengthen its technology and AI infrastructure, expand co-lending partnerships, and extend its reach across Tier III cities.
In Mar-24, Optimo loan had attracted about USD 10 M from Blume Ventures, Omnivore Partners, and others.For FY24, Optimo loan had reported about INR 0.09Cr in Operating Income and about INR 1.32 Cr in Net Loss.
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