About OptaCredit
OptaCredit was a Financial Services company based in Chennai (India) founded in 2016 by Narasimhan Muralidharan and Subrahmaniyam Anand. It operates an online platform providing payday loans tailored for salaried employees. It operates on a B2C model. OptaCredit has raised $402.17 thousand across 3 funding rounds from investors including DMI Finance, Advay Capital Advisors and Meichudar. The company has 13 employees. OptaCredit was last valued at $1.58 million in March 2018. Its Indian entity Optacredit Fintech Private Limited reported revenue of ₹62.5 Lakh. The company is recorded as dissolved. Its focus areas include Banking and Lending, Consumer Lending and Payday Loans. Its competitors include KarmaLife, PerkFinance and SalaryCredits; 2 of its 3 listed competitors have raised funding.
Company details
OptaCredit operates an online platform providing payday loans tailored for salaried employees, focusing on offering financial products and advice, banking and lending, consumer lending, and payday loans. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
- Headquarters Chennai, India
- Employees 13
- Founders Narasimhan Muralidharan, Subrahmaniyam Anand
- Stage Minicorn
- SectorsFinancial Services
- Website optacredit.com
- Social X Facebook
- Legal Name Optacredit Fintech Private Limited
- Date of Incorporation 02 Feb, 1987
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹62.5 Lakh
FY 2020 · -84% YoY
- Net Loss-₹3.56 Cr
FY 2020 · -570% margin
- EBITDA-₹3.06 Cr
FY 2020 · -489% margin
- Total Equity Funding$402.17K (USD)
in 3 rounds
- Latest Funding Round$385.61K (USD), Seed
Mar 2018
- InvestorsDMI Finance
& 8 more
- Employee Count13
Associated legal entities of OptaCredit
OptaCredit operates through Optacredit Fintech Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2020) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Optacredit Fintech Private Limited CIN U65993TN1987PTC013978 | Active | 02 Feb 1987 | Chennai, Tamil Nadu | ₹0.6 Cr | 13 | 2 | View details |
Funding Insights of OptaCredit
OptaCredit has successfully raised a total of $402.17K across 3 strategic funding rounds. The most recent funding activity was a Seed round of $385.61 thousand completed in March 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $402,168
- Total Rounds 3
- Last Round Seed — $385,609
- First Round $16,559
(Mar 2016)
- Investors Count 9
All 3 funding rounds of OptaCredit with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2018 | $385,609 | Seed | $1.58M | K S Sreenivasan | |
| Jan 2018 | $4M | Debt – Conventional | – | – | |
| Mar 2016 | $16,559 | Angel Round | $151,073 | Subrahmaniyam Anand |
| Date | Valuation | Stage |
|---|---|---|
| Mar 2018 | $1.58M | •••••••• |
Last known valuation $1.58M (Mar 2018). 9 investors in total: 3 institutional and 6 angel.
Investors in OptaCredit
OptaCredit has secured backing from 9 investors, including institutional and angel investors. Prominent investors backing the company include DMI Finance, Advay Capital Advisors and Meichudar.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Limited information is available on core activities. | meichudar.com | |||
Investment banking firm focused mid-market companies | 2017 | advaycapital.com | Chennai, India | |
Personal, MSME, consumption, and EV loans are provided digitally. | 2008 | dmifinance.in | Delhi, India | |
VJ Vasanth Jeyapaul | unknown_03a0ef515bd1491ca | |||
KS K S Sreenivasan | unknown_db2cb1ba4cb34890b | |||
MS M Shiela | unknown_604b0dffe1b44bee8 | |||
MS M Shiela | unknown_c5da86d06f1e47e88 | |||
SA Subrahmaniyam Anand | unknown_f04475c80db94ed08 | |||
NM Narasimhan Muralidharan | unknown_ca374622ee9b43178 |
Investor details for OptaCredit
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
Board of directors of Optacredit Fintech Private Limited (OptaCredit)
Optacredit Fintech Private Limited is the primary company behind OptaCredit. The board of Optacredit Fintech Private Limited currently have 2 directors; the longest-serving is Krishna Kumar Arunkumar, appointed in 2016. 7 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Krishna Kumar Arunkumar DIN 07659528 | Director | 21 Nov 2016 | 9 yrs 11 mo | Optacredit Fintech Private Limited |
| Kumar Srivatsan DIN 06935658 | Director | 21 Aug 2017 | 9 yrs 2 mo | Optacredit Fintech Private Limited |
People of OptaCredit
2 people are tracked at OptaCredit (2 in leadership); the tracked headcount is 13.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for OptaCredit
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of OptaCredit
Figures of Optacredit Fintech Private Limited, the primary company behind OptaCredit, for FY 2020. Revenue was ₹62.5 Lakh (-84% year on year). Net loss was -₹3.56 Cr (-570% margin). EBITDA was -₹3.06 Cr (-489% margin). Revenue has grown at a compounded annual rate of -18% over three years and +13% over five years.
- ₹62.5 LakhRevenue · FY 2020 · -84% YoY
- -₹3.56 CrNet loss · -570% margin
- -₹3.06 CrEBITDA · -489% margin
- ₹2.02 CrPaid-up capital
- 13Employees (provident fund records)
- -18%Revenue CAGR, 3 years
- +13%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Optacredit Fintech Private Limited are on its company page.
Detailed financial statements for OptaCredit
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of OptaCredit
4 dated milestones of OptaCredit across 2 years, from founding to its latest funding, stage changes and deals.
- Founded OptaCredit is founded.
- Funding First funding round of $17K.
- Funding Latest funding round, Seed, of $386K.
- Milestone Reaches Minicorn status.
Competitors of OptaCredit
OptaCredit has 3 listed competitors in our database, 2 of them funded. They include KarmaLife, PerkFinance and SalaryCredits.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| karmalife.ai | 2020 | Bengaluru, India | $9.02M | 117 | Subscription-based payday loans are provided to blue-collar workers digitally. | |
| perkfinance.com | 2017 | Bengaluru, India | $900,000 | Mobile-based lending and financial services are offered to blue-collar workers. | ||
| salarycredits.com | 2014 | Gurugram, India | Offers an app-based platform for payroll loans to users. |
Detailed competitors of OptaCredit
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Consumer and SME Loans
3 companies that operate in the same segment as OptaCredit (Consumer and SME Loans) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Consumer and SME loans are provided by Manappuram Finance. | 1992 | Valapad, Kerala, India | USD 39.98 M | USD 1.01 B | 51,650 | |
Affordable home loans are extended to low and middle-income groups. | 2010 | Mumbai, Maharashtra, India | USD 209.7 M | USD 203.79 M | 1,630 | |
Diversified lending services are provided as a non-banking financial institution. | 1994 | Mumbai, Maharashtra, India | USD 1.9 B | 36,520 |
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Related news about Optacredit
Complete news archive for OptaCredit
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Frequently Asked Questions about OptaCredit
OptaCredit was founded in 2016.
OptaCredit is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
OptaCredit is a funded company, having raised a total of $402.17K across 3 funding rounds to date. The company's 1st funding round was a Angel Round of $16.56K, raised on Mar 2016.
OptaCredit has 13 employees.
The primary company behind OptaCredit, Optacredit Fintech Private Limited, reported revenue of ₹62.5 Lakh for FY 2020, down 84% year on year.
OptaCredit operates an online platform providing payday loans tailored for salaried employees, focusing on offering financial products and advice, banking and lending, consumer lending, and payday loans. It serves clients with dedicated solutions, emphasizing quality, innovation, and sustainable growth in its core markets.
OptaCredit's top competitors include KarmaLife, PerkFinance and SalaryCredits.
OptaCredit has 9 investors. Key investors include DMI Finance, Advay Capital Advisors, Meichudar, Vasanth Jeyapaul, and K S Sreenivasan.
The valuation of OptaCredit is $1.58M as of Mar 2018.
OptaCredit operates through Optacredit Fintech Private Limited.
The legal entities of OptaCredit currently have 2 directors, including Kumar Srivatsan, Krishna Kumar Arunkumar.