Pitti, the cofounder of publicly listed journey platform Easemytrip, had beforehand labored at monetary establishments like Capital One and HSBC in the USA.
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With Optimo, Pitti needs to bridge the $530 billion credit score hole in MSME lending in India. Optimo will leverage know-how and a phygital distribution mannequin to increase credit score to this part of companies, the corporate mentioned in a press notice right now. The startup is constructing a co-lending platform for MSMEs with an underwriting technique which is able to permit Optimo to realize deep insights into the monetary well being of its prospects.
“Optimo lending operations commenced in November 2023, and we’re scaling swiftly, but prudently. We purpose to determine an asset-light firm by primarily leveraging co-lending agreements with banks and bigger NBFCs,” mentioned Pitti who shall be operating this enterprise parallel to Easemytrip.
Reihem Roy, accomplice at Omnivore mentioned that there are 53 million companies which want credit score, solely 25% of MSMEs have entry to formal credit score, therefore the chance right here is very large.
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ET reported on March 13 that the MSME lending sector is getting numerous consideration as banks are going sluggish on client lending. Gamers like Lendingkart, Indifi and others have seen income within the final monetary yr and are hoping to construct sturdy co-lending fashions to lend to small companies throughout.
