Oolka raises $7 million in seed round led by Lightspeed

Fintech startup Oolka has raised $7 million in a seed funding round led by Lightspeed India Partners and Z47.

The round also saw participation from 8i Ventures and a roster of angel investors, including meesho's Vidit Aatrey and Sanjeev Barnwal, and M2P head Madhusudanan R.

The startup will use the fresh capital to expand its engineering and data science teams and build new AI tools, including voice-based services.

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“In the long run, what we see is a mega opportunity to build a true AI distribution play and then cross-sell different products just like any fintech distribution arm that has been there in the country,” said Utkrishta Kumar, Founder of Oolka.

“To put it very simplistically, it is like we are helping each Indian to hire the best possible consultant, which can advise the best possible credit consultant in the country is now working for them 24x7—and not just advising, but acting on their behalf too,” Kumar added.

About Oolka 

Founded in 2024 by former Meesho executive Utkrishta Kumar, Oolka positions itself as India’s first agentic AI credit management platform.

Used by nearly two million people, it has processed over ₹100 crore in repayments and is close to $1 million in annual recurring revenue.

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Oolka has partnered with Yes Bank, IDFC Bank, AU Small Finance Bank, Muthoot Finance, and InCred to grow its credit marketplace.

 Its AI serves as an active financial companion—tracking credit profiles, suggesting improvements, and, with user consent, even acting on their behalf. Unlike traditional credit-tracking apps, Oolka’s system is built to directly intervene in financial negotiations.

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