Fintech startup OptaCredit in early talks to raise $8-10 million

Alternative-lending firm OptaCredit is reportedly in early talks to raise around $8-10 million to fund its expansion and growth plans. The fintech startup, focused on untouched salaried employees, had earlier raised an undisclosed amount as part of its Pre-Series A.

As per a statement released by the company, OptaCredit has secured additional credit lines of Rs 200 crore from DMI Finance. This is on top of the initial Rs 25 crore line which was reported early this year. It is reportedly also in discussions with multiple other institutions for additional credit lines.

Chennai-based OptaCredit adopts a hybrid approach, where it contributes a certain percentage of loan assets generated via its platform, on its balance sheet as it has a lending license.


According to the startup, what sets it apart from others in the fintech landscape is that it operates as a data-driven end-to-end lending stack powered by AI, with control right from sourcing to disbursements to collections.

Using its proprietary scoring techniques, OptaCredit focuses on exploring unique, alternative mechanisms to create new ways for a more defined customer assessment to determine "credit-worthiness" of "Thin-File" applicants, mainly to salaried employees belonging to unlisted employers being denied credit or provided sub-optimal credit.