Lending Startup Olyv Raises $23 Million in Series C Round

Bengaluru-based Olyv, a consumer lending platform, has raised INR 207 crore (about USD 23 million) in its Series C funding round from Nandan Nilekani’s The Fundamentum Partnership and Japan’s SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC).

The company will use half of the funds to fund the NBFC and the other half to expand the business and improve the product.

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“We are democratising access to credit for the underserved and fostering financial inclusion. This round will help us scale the business, strengthen our liability partnerships and expand our product offerings,” said Rohit Garg, co-founder of Olyv, adding that the company aims to become a full-stack financial partner for underbanked Indians entering the formal credit ecosystem.

"The digital lending ecosystem is entering its next phase of maturity, supported by the foundational rails of india Stack. Olyv’s credit first, tech led model is aligned with this shift,” said Mayank Kachhwaha, investor and fintech thesis lead at Fundamentum.

“As the personal loan market grows rapidly, ensuring effective credit assessment and risk management for young and middle-income consumers with limited credit histories is essential. Olyv addresses this through a digital platform that leverages alternative data and AI driven models, enabling broader credit access while maintaining strong risk discipline,” said Keiji Matsunaga, general manager of the digital strategy department at SMBC.

About Olyv 

Founded in 2016 by Garg, Amit Chandel, Vinay Singh, and Jayant Upadhyay, Olyv is a fintech startup that runs an online lending marketplace via its website and mobile app. It mainly provides small, unsecured personal loans and also offers services for credit monitoring, savings, and insurance. 

Its main customers are micro-merchants, self-employed people, small shop owners, blue- and grey-collar workers, and salaried professionals.

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Olyv is currently lending Rs 4,000 crore in personal loans annually and aims to reach an AUM of $1 billion within the next three years.

In FY25, the startup earned Rs 350 crore in total revenue and a net profit of Rs 26 crore.

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