Optimo Capital, the fintech non-banking monetary firm (NBFC) based by EaseMyTrip co-founder Prashant Pitti, has raised Rs 150 crore ($17.5 million) in an fairness spherical led by Pitti himself, with participation from current backers Blume Ventures and Omnivore.

The Bengaluru-based agency additionally secured Rs 110 crore in debt from IDFC First Financial institution and Axis Financial institution and is in talks with public-sector banks and enormous NBFCs for co-lending partnerships.

Based 18 months in the past, Optimo focuses on digital loans in opposition to property (LAP) for small-business homeowners and self-employed debtors who personal actual property however have restricted credit score historical past. The agency claims to have constructed a Rs 350 crore mortgage e-book and operates throughout 56 cities in Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Madhya Pradesh, using about 480 folks.

Pitti mentioned the contemporary capital will strengthen Optimo’s expertise infrastructure, AI programs, and geographic growth into tier-III markets. The agency expects to shut the present fiscal yr with a mortgage e-book of Rs 650-700 crore.

It disburses Rs 50-70 crore a month, with common ticket sizes between Rs 10 lakh and Rs 1 crore, and maintains gross NPAs at 0.6%, in contrast with an trade common of about 2%. Loans are usually supplied at a loan-to-value ratio of 43%, offering debtors entry to larger quantities at decrease charges than unsecured credit score.

Pitti, who stepped down as EaseMyTrip’s managing director in August whereas remaining a promoter, mentioned India’s mortgage-to-GDP ratio of 9% underscores the untapped potential of property-backed lending.

Reihem Roy, companion at Omnivore, described the mid-ticket LAP phase as a Rs 22 lakh crore alternative, solely 28% of which is presently served. “Optimo’s tech-first mannequin is properly positioned to bridge that hole,” he mentioned.