Bengaluru-based fintech startup Oolka has secured $7 million in a seed funding round led by Lightspeed India Partners and Z47, with participation from 8i Ventures and prominent angel investors including Meesho founders Vidit Aatrey and Sanjeev Barnwal, Ramakant Sharma of Livspace, and Rajesh Yabaji of BlackBuck. Founded in 2024 by Utkrishta Kumar (UK), former chief experience officer at Meesho, Oolka positions itself as India’s first agentic AI credit management platform, aiming to transform how consumers manage their credit.
The newly raised funds will be deployed to expand the company’s engineering, data science, and product teams, while accelerating the launch of real-time credit improvement tools and developing what Oolka describes as India’s first AI-native consumer app for credit. “Oolka was founded on a simple belief that every Indian should have access to affordable credit,” said Kumar. “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.”
Oolka’s platform differs from conventional credit score apps by employing a multi-agent AI system that analyzes a user’s financial situation and, with consent, executes personalized actions such as monitoring repayment schedules, nudging better spending habits, and automating timely payments. Since its inception, the platform has processed over Rs 100 crore in repayments, is approaching 2 million users, and is on track to exceed $1 million in annual recurring revenue.
Commenting on the investment, 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 personalized path forward.”
With this infusion of capital and a focus on AI-driven, actionable credit insights, Oolka is poised to reshape personal finance management in India, making credit access smarter, more proactive, and user-friendly.
