India’s fintech industry is recording a fresh wave of deal activity after a long slowdown in funding and regulatory actions on unsecured lending. Industry sources say several startups are once again engaging with venture capital firms for expansion as clarity on payments and lending rules improves. The strong market debut of Pine Labs and Groww has further encouraged risk investor by showing clearer exit pathways in the Indian market.
Earlier this month, a recent report highlighted that the Groww listing has accelerated discussions in the wealth technology space, with many mid stage companies exploring substantial funding opportunities.
In the lending segment, Bengaluru based consumer credit startup Olyv, previously known as SmartCoin, is close to finalising a new fundraise. People familiar with the matter said the company is negotiating a round of fifteen to twenty million dollars. The round is expected to be led by Fundamentum, backed by Nandan Nilekani, with additional participation from the SMBC Rising Asia Fund from Japan.
In the home financing category, Ambak is also in the market for new capital. The company is raising eight million dollars from its existing investors. A board resolution passed last month shows plans to secure three million dollars each from Z47, earlier known as Matrix Partners India, and Peak XV Partners. The remaining capital is expected from DeVC India and Advantedge Technology Fund. Ambak was founded by Raghuveer Malik who previously worked at Policybazaar, Rashi Garg from ZestMoney, and Rameshwar Gupta who earlier served as the chief technology officer at Freecharge.
The company secured seven million dollars from the accelerator programme Surge by Peak XV in January 2025. At the time, it outlined plans to expand its lending operations to thirty five cities and set a target of one billion dollars in loan disbursements by March 2026. According to a person aware of the discussions, existing investors including Peak XV and Z47 are expected to continue supporting the latest funding round.
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