Bengaluru-based fintech startup Oolka has raised ₹130 crore (about $14 million) in a Series A round led by Accel, with participation from existing backers Lightspeed India Partners and Z47. The funding values the company at approximately ₹730 crore ($87.6 million), a substantial step-up from its $7 million seed round closed in September 2025.
Angel investors, including Meesho’s Vidit Aatrey and Sanjeev Barnwal, also joined the round. The company said the capital will be deployed to scale engineering and product teams, deepen its technology stack, and expand user acquisition.
AI-driven credit support for young borrowers
Founded in 2023 and registered as Sixdis Technologies, Oolka focuses on simplifying access to credit for younger Indians. The company is led by founder and CEO Utkrishta Kumar.
Oolka’s app goes beyond displaying a credit score. The AI-led platform detects discrepancies in credit reports, drafts and sends dispute emails on behalf of users, and supports negotiations for improved loan terms. It tracks scores from bureaus such as CIBIL and offers personalised guidance to build credit health. For “thin-file” users, it incorporates alternative data—such as UPI transactions and utility bill payments—to present a more holistic risk profile. The app also includes EMI tracking, bill payments, and rewards in the form of “Oolka Coins” for positive financial behaviour.
Rapid adoption and monetisation plans
The platform has amassed close to 2 million users and has facilitated repayments of over ₹100 crore within two years. Oolka operates a freemium model, offering core services at no cost while charging for premium features under Oolka AI Plus.
For FY25, the startup reported revenue of ₹5.52 lakh and a loss of ₹5.58 crore, reflecting early-stage investment in growth. It is targeting over $1 million in annual recurring revenue in the near term. Oolka competes with established players such as CRED and Paisabazaar, positioning its proposition around active, AI-enabled credit improvement rather than passive score tracking.
