Prashant Pitti’s Optimo Capital raises Rs 150 Cr in Series A round

Optimo Capital, a digital loan against property (LAP) fintech NBFC founded by EaseMyTrip co-founder Prashant Pitti, has raised Rs 150 crore ($17.5 million) in its Series A round led by Pitti, with participation from existing investors Blume Ventures and Omnivore.

The firm has also raised Rs 110 crore in debt from IDFC and Axis Bank, with additional PSU banks and NBFC co-lending partnerships expected, Optimo said in a press release.

The company plans to use the funds to expand technology systems, AI infrastructure, co-lending arrangements, and coverage across tier-3 markets.

Optimo offers secured loans to small-business owners by using residential or commercial property as collateral. The company targets MSME borrowers who lack credit history but own property. Optimo positions its product as a higher-ticket and lower-rate alternative to unsecured business or personal loans.

The platform uses 77 lakh digital land records and AI-based processes to conduct property valuation and title checks. It claims to issue in-principle loan approval within hours and complete disbursements in under one week, compared to the traditional four-to-six-week timeline.

In 18 months, Optimo claims to have built a Rs 350 crore loan book, operates branches in 56 cities across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Madhya Pradesh, and employs 480 people. 

According to the company, it reported profitability since its third month of operations and has remained profitable for over 15 months.

In August, Pitti resigned from his role as Managing Director of EaseMyTrip. He will continue as a promoter and long-term shareholder of the online travel company.