Digital financial services platform Olyv has secured $23 million (approximately Rs 208 crore) in its Series B round, with The Fundamentum Partnership — founded by Nandan Nilekani — leading the investment. The round also saw participation from SMBC Asia Rising Fund, the corporate venture arm of Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s largest banking institutions. The fresh capital will be deployed to broaden Olyv’s product portfolio, including new solutions in insurance, UPI services, and business lending. The company also plans to channel investments toward strengthening its brand presence and upgrading its technology infrastructure.
Established in 2016 by Rohit Garg, Amit Chandel, Vinay Singh, and Jayant Upadhyay, Olyv operates as a digital lending and financial management platform. Its offerings span personal loans, gold savings, and credit health management solutions.The platform focuses on addressing the rising demand for digital credit by improving affordable access to loans and other financial products for middle-income households, particularly in tier-2 and tier-3 cities. The company says it currently records nearly 2 million monthly active users and has a presence across more than 19,000 pin codes nationwide. So far, Olyv has disbursed 70 lakh loans and enabled over Rs 10,000 crore in cumulative transactions, while maintaining PAT profitability growth for 11 consecutive quarters.
Looking ahead, the company aims to expand its user base to 100 million by FY29 and surpass $1 billion in assets under management.
Rohit Garg, Co-founder and CEO, Olyv, said, “At Olyv, technology and data come together to create real impact. We are democratizing access to credit for the next billion hard-working and underserved Indians fostering financial inclusion and nurturing their aspirations. This round will help us scale the business, strengthen our liability partnerships, and expand our product offerings to deliver an enhanced customer experience.”
Highlighting the broader industry context, Mayank Kachhwaha, Investor and Fintech Thesis Lead at Fundamentum, said, “Beyond the numbers, this deal is a result of a long-standing relationship with Rohit and team, whom I’ve known for many years and have had a ringside view of their journey. What makes this moment particularly relevant is the broader shift underway in India’s lending landscape. The ecosystem is entering its next phase of maturity, supported by the foundational rails of India Stack. Olyv’s credit-first, tech-led model is aligned with this shift.”
Keiji Matsunaga, General Manager of Digital Strategy Department at SMBC, added, “As the personal loan market grows rapidly, ensuring effective credit assessment and risk management for young and middle-income consumers with limited credit histories is essential. Olyv addresses this through a digital platform that leverages alternative data and AI-driven models, enabling broader credit access while maintaining strong risk discipline. We look forward to collaborating with Olyv to explore synergies that promote financial inclusion in India.”
Unitus Capital served as the exclusive financial advisor to Olyv for the transaction.
Since its launch, Olyv has raised about $25 million in equity funding and secured $100 million in debt from a range of prominent global and Indian fintech-focused investors, including Lightrock, Unicorn India Ventures, India SME, and family offices such as Gauri Khan’s Family Office.
 in its Series B round, with The Fundamentum...){kind=link}