Bengaluru-based fintech startup Oolka has secured 7 million dollars in a seed funding round led by Lightspeed India Partners and Z47, with additional participation from 8i Ventures and several top angel investors. The investors include Vidit Aatrey and Sanjeev Barnwal, co-founders of Meesho, Ramakant Sharma of Livspace, and Rajesh Yabaji of BlackBuck.
Founded in 2024 by Utkrishta Kumar, former chief experience officer at Meesho, Oolka positions itself as India’s first agentic AI credit management platform. The startup aims to transform credit accessibility and management for millions of Indians.
The funds will be directed towards expanding engineering, data science, and product teams. Oolka also plans to accelerate the rollout of its real-time credit improvement tools and build the country’s first AI-native consumer app for credit. Kumar said, “Oolka was founded on a simple belief that every Indian should have access to affordable credit. We are scaling an industry-first multi-agentic AI platform that could be the active companion for every credit and personal finance decision in India.”
Unlike traditional credit score-tracking apps, Oolka’s multi-agent AI system analyses a user’s financial situation and, with consent, takes personalised actions. These include monitoring repayment schedules, encouraging better spending habits, and automating timely payments. Since its launch, the platform has processed more than Rs 100 crore in repayments, is nearing 2 million users, and is on track to surpass 1 million dollars in annual recurring revenue.
Expressing support, Lightspeed partner Harsha Kumar said, “We are thrilled to support Oolka as they redefine credit empowerment in India. With their AI-driven focus on actionable credit insights, seamless EMI management, and rewards for responsible financial behavior, Oolka is uniquely positioned to elevate credit wellness for millions.” Vikram Vaidyanathan, managing director at Z47, added, “Oolka’s AI-powered financial companion offers a differentiated journey, diagnosing a user’s financial situation and charting a personalised path forward.”
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