Oolka has raised a Series A round of funding valued at ₹130 crore (approximately $14 million). The substantial funding round was led by Accel India. The round saw strong support from existing shareholders. As per publicly available filings, the Oolka board has allotted 10 equity shares and 24,995 Series A compulsorily convertible preference shares (CCPS) at an issue price of ₹51,835.79 to raise the investment. This capital raise saw the company valued at a post-money value of approximately ₹730 crore (approximately $87.6 million), an increase from previous valuations.

Fund utilization and the aim of Oolka

The Series A round saw a mix of prominent investors. Accel India led the round with a ₹87.22 crore commitment. The round also saw existing investors commit capital, with Lightspeed India Partners and Z47 (formerly Matrix Partners India) contributing ₹20.87 crore and ₹20.86 crore. 

The funding round also saw the personal involvement of leading entrepreneurs in the Indian startup space. The founders of the billion-dollar e-commerce startup Meesho, Vidit Aatrey and Sanjeev Barnwal, both contributed ₹32.65 lakh personally. This combination of experienced venture capital and strategic angel investment provides Oolka with the financial backing and mentorship required to thrive in the multifaceted world of fintech.

The funds raised in this Series A round will be used for Oolka to fuel its growth and expand its business. The company’s filing states that these new investments will be used for capital expenditures, corporate purposes, and the expansion of its platform. 

The company plans to expand its engineering and product development teams by focusing on data scientists and AI engineers to build upon its existing tech platform. This funding arrives after a $7 million seed funding round led by Lightspeed and Z47 in September 2015. The accelerated pace of funding rounds reflects the intensity and pace with which Oolka intends to address the rapidly growing credit management space in India.

Operational success and innovation

Oolka was launched in 2024 by Utkrishta Kumar, former Chief Business Officer of Meesho. Oolka aims to create India’s first “agentic AI” credit health platform. The company aims to make credit health accessible to all by offering an AI financial companion that can monitor, manage, and improve a user’s credit health. 

The company is using a multi-agent AI platform that serves as a financial advisor, assessing a user’s credit health and providing a customised action plan. This involves tracking credit scores, managing Equated Monthly Instalments (EMIs), and incentivising healthy financial practices. Oolka seeks to position itself as a one-stop shop for all credit-related activity by shifting the emphasis from reports to insights.

Oolka has already achieved strong growth and operational metrics in its early days. It claims to have almost 2 million users and has served more than ₹100 crore of credit repayments. The credit marketplace is backed by partnerships with leading financial providers, including Yes Bank, IDFC Bank, and AU Small Finance Bank. 

The company was pre-revenue at the time of the financial year ending in 2025, with revenue of only ₹5.52 lakh and a loss of ₹5.58 crore, although it recently forecast its annual recurring revenue (ARR) to reach over $1 million. With the company gearing up to introduce new products such as voice and live call support in almost 100 Indian languages, it aims to cater to the burgeoning market of tech-savvy and aspirational individuals in India who track their financial identity.

Conclusion

Oolka’s successful ₹130 crore raise highlights the significant potential in the Indian credit management market and the growing demand for AI-powered financial services. With support from Accel, Lightspeed, and Z47, Oolka is set to evolve from a startup to a financial life assistant for millions of people. Through its focus on the pressing need for credit wellness with advanced agentic AI technologies, the startup is contributing to enhancing both individual user financial health and the overall financial services landscape.

As it expands its product offerings and customer reach, Oolka’s growth will likely provide a model for the role of artificial intelligence in improving financial inclusion and consumer credit behaviour in the country.