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Optimo Loan raised $10 M Seed funding from Blume and Omnivore

Blume and Omnivore led the $10 million seed round for the MSME-focused lending-tech startup Optimo Loan, which also received funding from Prashant Pitti, the company’s founder.

By the end of this year, the startup plans to broaden its presence to 20 locations in rural India by enhancing its operations, hiring new staff, and deploying new technology, according to a press release.

Optimo, founded by Pitti, gives MSMEs quick, simple, and adaptable financing options. It helps companies with business continuity, liquidity enhancement, and new technology investments. The startup actively supports local economic expansion, job creation, and community improvement.

The startup is also developing a co-lending platform with a distinct underwriting process for MSMEs. Optimo is able to make more informed lending decisions and stimulate economic growth and entrepreneurship in rural communities thanks to this approach, which also gives Optimo deeper insights into the financial health of MSMEs.

However, tech-focused venture fund Blume Ventures, which focuses on India in its early stages, invests in seed and pre-Series A rounds of startups. Currently, it is making investments through its $300 million Fund IV, which is backed by family offices and institutional LPs. Blume’s assets under management, or AUM, have surpassed $600 million as of Fund IV’s close.

 

 

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