Team StartupCity

• Oolka raises $7 Million seed funding led by Lightspeed India and Z47
• Funds to expand tech team and build AI features, including voice tools
• AI assistant helps users manage credit and reduce loan costs

Fintech startup Oolka has raised $7 million in a seed round led by Lightspeed India Partners and Z47, with additional backing from 8i Ventures and several angel investors including Meesho’s Vidit Aatrey and Sanjeev Barnwal, and M2P's Madhusudanan R.

Founded in 2024 by former Meesho executive Utkrishta Kumar, Oolka is building India’s first agentic AI credit assistant, a smart financial companion that not only advises users but also acts on their behalf. The funding will be used to scale the tech team, develop voice enabled AI features, and expand partnerships in India’s fast growing credit ecosystem.

Oolka’s platform, already used by nearly 2 million users, has processed over Rs 100 crore in repayments and is nearing $1 million in annual recurring revenue. The AI assistant monitors users’ credit activity, flags potential issues, and with user consent negotiates with lenders, corrects credit bureau errors, and even upgrades credit cards.

In one real world case, the AI identified a user's high interest home loan, drafted emails to the lender, and successfully renegotiated the loan terms all without the user lifting a finger.

Kumar described Oolka as “A 24x7 personal credit consultant for every Indian”, helping users improve their credit health in a hands on way. “It’s not just advice, it’s action”, he said.

Also Read: Kiwi Raises $24 Million to Bring Credit Lines to UPI Payments

Oolka is already distributing loans through NBFC partnerships and working with IDFC, AU Bank, and Yes Bank to offer credit cards. Unlike traditional credit repair apps, Oolka’s business model focuses on cross-selling and financial product distribution.

As India’s credit market expands, tools like Oolka’s AI assistant are becoming essential for users navigating complex financial decisions.