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PNB Boosts Optimo Capital with ₹100 Cr Infusion
Optimo Capital, a digital lender for small businesses, has received ₹100 crore in funding from Punjab National Bank (PNB). This capital boost is set to increase the company's lending power and support its expansion within the underserved MSME sector.
Godrej Finance Partnership to Fund ₹200 Cr MSME Loans
Alongside the PNB funding, Optimo Capital has teamed up with Godrej Finance for a co-lending partnership. This collaboration will enable the disbursement of ₹200 crore in loans over the next twelve months, combining their expertise to offer accessible credit solutions.
Bridging India's $240 Billion MSME Credit Gap
Optimo Capital CEO Prashant Pitti noted that India's MSME sector faces a massive $240 billion credit gap, even for businesses with good collateral. The company plans to use technology and careful underwriting to provide entrepreneurs with quicker, more secure credit access to close this gap.
Optimo Capital's Tech Edge: Fast Loans, Low Risk
Optimo Capital has over ₹430 crore in assets under management (AUM) with a low gross Non-Performing Asset (NPA) ratio of under 0.7%. The company uses AI and digital land records for fast property valuation and title checks. This allows in-principle approvals in hours and loan disbursals in under a week, much faster than traditional lenders.
Rapid Growth: Profitable Since Launch, Expanding Reach
Launched in early 2024, Optimo Capital has been profitable since launch, earning ₹2-3 crore monthly. The company holds a BBB (Stable) rating from CARE Ratings. Optimo operates across 51 cities in five states and employs over 500 people, setting it up for further growth.