Optimo Capital raises Rs 150 crore in Series A round led by founder Prashant Pitti, Blume Ventures, Omnivore

Optimo Capital, a digital loan against property fintech, has closed its Series A funding round, securing Rs 150 crore (approximately $17.5 million), the company said on October 28.

Founder Prashant Pitti, who has also co-founded travel firm EaseMyTrip, led the funding round with participation from existing investors Blume Ventures and Omnivore.

“Optimo is unlocking India’s biggest asset — its land and property, which constitutes 53 percent of the nation's wealth. We are enabling property-owners to quickly get secured loans. India’s mortgage-to-GDP ratio is just 9 percent versus above 50 percent in developed economies, Pitti said.

Founded in early 2024, Optimo separately secured Rs 110 crore in debt funding from IDFC and Axis Bank. The company expects to add several public sector banks and large NBFCs as debt providers or co-lending partners in the near future.

The Bengaluru-based in the non-banking financial company, which focuses on bridging the credit gap for India's small-business owners, plans to use the fresh capital to expand its technology, artificial intelligence (AI) infrastructure, co-lending partnerships and geographical presence across tier-3 cities in India.

The funding will help the company expand its operations to address the significant $530 billion credit gap in the Indian micro, small and medium enterprises (MSME) ecosystem, it said.

Optimo will cater to 75 percent of MSME entrepreneurs who lack a formal credit history but own valuable residential or commercial property, the company said. By leveraging AI and 77 lakh digital land records, Optimo will look to provide rapid property valuation and title verification.

The company can provide in-principle approvals within hours and full loan disbursals in under a week — a process that traditionally takes between four to six weeks at conventional lenders.

The company claims to have built a loan book of Rs 350 crore and achieved profitability within three months of its inception, maintaining that trajectory for over 15 months.

Optimo has branches in 56 cities in Karnataka, Tamil Nadu, Telangana, Andhra Pradesh and Madhya Pradesh.

“Prashant’s leadership and disciplined execution are rare in financial services. Optimo is building the blueprint for higher-amount and affordable loans backed by property, the future of secured lending in India,” said Ashish Fafadia, partner at Blume Ventures.

According to Reihem Roy, partner at Omnivore, the mid-ticket LAP market is a Rs 22 lakh crore opportunity with only 28 percent of it is being met today. “Optimo’s tech-first model is perfectly timed to fill that gap with efficiency and scalability,” Roy added.