Credit Management Startup Oolka Bags $14 Mn In Accel-Led Series A Round

Fintech startup Oolka has raised $14 Mn in its Series A funding round led by Accel, with participation from Lightspeed, and Z47. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also participated in the round. 

The startup, which leverages AI to help consumers improve their credit score, plans to utilise the fresh funding to scale its AI engineering team, expand agentic AI capabilities and deepen institutional partnerships with lenders like banks and NBFCs. Oolka also plans to broaden its product suite beyond credit, aspiring to build a comprehensive “financial OS” for Indian consumers.

Founded in 2024 by former Meesho executive Utkrishta Kumar, the credit management startup addresses the gap in active personal financial management by deploying AI-powered agents that help users monitor credit health, access credit, and take steps toward financial planning. The agents can also take remedial measures to improve credit health on behalf of the consumer, when permission is granted.

The startup also operates a credit marketplace, leveraging its AI agents to recommend, distribute, and cross-sell financial products, including credit cards, fixed deposits, and loans. It currently has lending partnerships with IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance, InCred, among others. 

It claims to have amassed 6 Mn users and have an annual recurring revenue (ARR) of $2.5 Mn. 

Prior to this, Oolka raised $7 Mn in its seed funding round co-led by Lightspeed and Z47, with participation from 8i Ventures and a host of angel investors. Including the latest round, the startup has raised a total of $21 Mn. 

With the rise of digital transactions, especially lending, awareness about credit health is also becoming mainstream in India. Startups are leveraging this emerging trend to not just aid users in managing and improving their credit scores but also recommend and cross sell lending and other financial products based on individual needs derived from user data. 

Earlier this week, Credillio raised ₹100 Cr to scale its FD-backed credit card platform novio, which also analyses and remedies users’ credit scores. Cofounder and CEO Aditya Gupta told Inc42 that the platform may introduce a paywall on its credit health management feature as demand rises. 

In October last year, credit management platform GoodScore also raised $13 Mn in its Series A funding round led by Peak XV. Other competitors in the space include CRED, OneScore, and CreditSeva. 

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