Team StartupCity

• Olyv, backed by Lightrock, is raising $15–20 million to fuel business growth.
• Unitus Capital appointed as advisor for the upcoming funding round.
• The move comes as demand for personal and co-lending platforms grows post-RBI reforms.

Lightrock-backed personal lending platform Olyv (formerly SmartCoin) is preparing to raise $15–20 million (around Rs 160 crore) in a fresh funding round, with Unitus Capital leading the process, according to sources familiar with the development. The funding will be entirely primary and focused on expanding the company’s lending operations and technology capabilities.

Founded in 2017, Olyv provides small-ticket personal loans to micro merchants, self-employed individuals, and salaried professionals. The company operates under its NBFC arm, UpMove Capital Pvt. Ltd, and has built co-lending partnerships with major financial institutions including Vivriti Capital, Poonawalla Fincorp, and Aditya Birla Capital Finance.

The fundraising plans come at a time when the Reserve Bank of India (RBI) has tightened co-lending regulations while recognizing personal and unsecured lending arrangements. This shift has opened new opportunities for credible players like Olyv to scale responsibly in the growing fintech lending space.

Also Read: Meesho Gets SEBI Approval for IPO, Eyes December 2025 Listing

Rebranded in 2024, Olyv also partnered with Yubi to expand its reach and deepen its technology driven lending model. The company reported Rs 250 crore in revenue in FY24, up 76% year-on-year, with an active user base of 2.6 million. It expects Rs 350 crore in FY25 revenue and aims to build a $1 billion asset base within three years.

So far, investors led by Lightrock have infused $25 million in equity and $80 million in debt into the company.