India: Online lending startup OptaCredit secures $4m credit line from DMI Finance

OptaCredit Fintech Pvt. Ltd, a digital lending start-up focusing on white-collar salaried workers, on Sunday said it has secured a credit line of $4 million from DMI Finance Pvt. Ltd, a non-banking financial services company (NBFC).

The credit facility may be topped up depending on the deployment of the funds. A credit line is an arrangement between a financial institution and the borrowing entity where the latter can access the stipulated credit amount, in parts or in full, over a specific period of time.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter