Bengaluru-based fintech startup Oolka has raised $7 million in seed funding, co-led by Lightspeed India Partners and Z47, with additional participation from 8i Ventures and several angel investors.
This comes after Oolka previously announced $6.9 million as part of the same round from Lightspeed Venture Partners and others.
The fresh infusion will primarily be directed toward expanding engineering and product teams, with a strong focus on hiring data scientists and AI engineers to strengthen its technology backbone.
Launched in 2024 by Utkrishta Kumar, Oolka offers an AI-driven credit management platform that helps individuals monitor, improve, and manage their credit profiles. Its suite of tools includes personalized insights, loan and EMI tracking, rewards for disciplined financial behavior, and an AI-powered CIBIL Expert to guide users in real time.
The company claims to have onboarded nearly two million users, processed over ₹100 crore in repayments, and is on track to cross $1 million in annual recurring revenue (ARR) soon.
Oolka has forged partnerships with leading financial institutions such as Yes Bank, IDFC Bank, and AU Small Finance Bank, powering its integrated credit marketplace. Beyond this, the platform supports nearly 100 Indian languages, with voice and live call assistance on the product roadmap.
Currently, Oolka’s primary user base lies within the 20–40 age group, though adoption is expanding across wider demographics, particularly in metro cities. Its next growth chapter will target new-to-credit and digitally savvy Indians, tapping into a fast-growing demand for tech-enabled personal finance management.
By: Arushi Agarwal
