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Fintech startup Oolka has raised INR 130 crore (nearly USD 14 million) in a Series A funding round led by Accel India with participation from existing investors Lightspeed and Z47.
According to regulatory filings, the company’s board approved the allotment of 10 equity shares and 24,995 Series A compulsorily convertible preference shares at an issue price of INR 51,835.79 per share to raise the funds.
Accel India led the round with an investment of INR 87.22 crore, while Lightspeed and Z47 contributed INR 20.87 crore and INR 20.86 crore, respectively. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also participated in their personal capacity, investing INR 32.65 lakh each.
The proceeds from the funding will be used to support Oolka’s expansion plans, including capital expenditure and general corporate purposes. The Bengaluru-based company had earlier raised USD 7 million in a seed round led by Lightspeed and Z47.
Founded in 2024 by former Meesho executive Utkrishta Kumar, Oolka is developing an AI-powered credit management platform. The platform helps users track, manage and improve their credit health by identifying inactive accounts, correcting inaccuracies, negotiating lower interest rates and increasing credit limits.
The startup operates as a digital agent, offering personalised assistance to users seeking to improve their financial profiles. At the time of its previous funding round, the company reported having nearly 2 million users and processing over INR 100 crore in credit repayments. It also projected its annual recurring revenue to cross USD 1 million.
Oolka has partnered with financial institutions such as Yes Bank, IDFC Bank and AU Small Finance Bank to support its credit marketplace.
In the competitive landscape, Oolka’s closest direct rival is GoodScore, while platforms like OneScore, Paisabazaar and CRED operate in adjacent areas such as credit tracking and recommendations.
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