Fintech startup Oolka has raised $7 million in a seed funding round co-led by Lightspeed India Partners and Z47, with participation from 8i Ventures and several angel investors. This comes after Oolka had previously raised $6.9 million in the same round from Lightspeed Venture Partners and others.
Funding Snapshot
- Amount Raised: $7 million (approx. Rs 58 crore)
- Investors: Lightspeed India Partners, Z47, 8i Ventures, and angel investors
- Use of Funds: Scaling engineering and product teams, with a focus on hiring data scientists and AI engineers
Solving the Credit Gap
India’s young population is increasingly turning to digital platforms to manage finances, yet credit health remains opaque and confusing. From tracking CIBIL scores to managing EMIs, many face challenges that restrict access to affordable credit.
Oolka addresses this by offering an AI-powered platform that delivers personalized insights, tracks repayments, and rewards good credit behavior. With features such as loan management tools and an AI-driven CIBIL Expert, Oolka empowers users to take control of their financial journey while bridging the gap between individuals and financial institutions.
Use of Funds
The newly raised capital will strengthen Oolka’s engineering backbone and product innovation, particularly in AI. The startup plans to expand its data science and engineering teams to build smarter tools for credit health and repayment management.
Founders & Edge
Founded in 2024 by Utkrishta Kumar, Oolka has already attracted nearly two million users and processed over Rs 100 crore in credit repayments. The company’s partnerships with banks such as Yes Bank, IDFC Bank, and AU Small Finance Bank add credibility to its growing credit marketplace.
Market Watch
India’s fintech adoption is surging, with users demanding transparent, tech-enabled solutions for credit management. Oolka’s ability to support nearly 100 Indian languages and its upcoming features like voice and live call assistance position it to scale rapidly across both metro and non-metro markets.
Final Take
By blending AI with financial literacy, Oolka is tackling one of India’s most persistent challenges—credit awareness and management. Its mission to simplify credit for the next generation of Indians could set new standards in how financial health is managed digitally.
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