Optimo Loan, a pioneering lending-tech startup focused on Micro, Small, and Medium Enterprises (MSMEs), has raised $10 million in seed funding. The round was led by prominent investors Blume and Omnivore, with additional participation from Optimo’s founder, Prashant Pitti.
The infusion of capital will fuel Optimo’s ambitious expansion plans, which include bolstering its technological infrastructure, attracting top talent, and establishing a presence in 20 rural locations across India by the end of the year.
Founded by Prashant Pitti, Optimo Loan aims to revolutionize access to finance for MSMEs by offering quick, easy, and flexible financing solutions. By enabling businesses to invest in new technologies, enhance liquidity, and ensure operational continuity, Optimo plays a pivotal role in fostering local job creation, driving economic growth, and promoting community development.
Moreover, Optimo is spearheading the development of a groundbreaking co-lending platform tailored for MSMEs, incorporating a unique underwriting methodology. This innovative approach equips Optimo with unparalleled insights into the financial well-being of MSMEs, facilitating informed lending decisions and catalyzing entrepreneurship in rural communities.
Blume Ventures, an early-stage India-focused venture fund, played a pivotal role in this funding round. Focusing on tech-led startups, Blume Ventures invests in seed and pre-Series A rounds, leveraging its $300 million Fund IV to support promising ventures. With an AUM (Assets Under Management) exceeding $600 million following the close of Fund IV, Blume Ventures remains at the forefront of India’s vibrant startup ecosystem.
