Bengaluru-based fintech startup Oolka has raised Rs 130 crore (around $14 million) in its Series A funding round, led by Accel India, with participation from existing investors including Lightspeed and Z47 (formerly Matrix Partners).
Key Highlights
- Oolka raises Rs 130 crore in Series A funding led by Accel India with existing investors participation.
- AI credit platform targets growth with nearly two million users and Rs 100 crore repayments processed.
According to regulatory filings, the company approved the allotment of equity shares and 24,995 Series A compulsorily convertible preference shares (CCPS) at an issue price of Rs 51,835.79 per share to raise the capital.
The funding round saw Accel India invest Rs 87.22 crore, while Lightspeed and Z47 contributed Rs 20.87 crore and Rs 20.86 crore, respectively. Additionally, Meesho co-founders Vidit Aatrey and Sanjeev Barnwal participated in their personal capacity, investing Rs 32.65 lakh each.
The fresh capital will be utilized to support the company’s expansion plans, including capital expenditure and general corporate purposes.
According to estimates, Oolka’s post-money valuation stands at approximately Rs 730 crore (around $87.6 million). The latest round follows its earlier $7 million seed funding led by Lightspeed and Z47 in 2025.
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Founded by Utkrishta Kumar in 2024, Oolka is building an AI-powered credit management platform that enables users to track, manage, and improve their credit health. The platform also provides personalised recommendations and can take proactive actions to enhance users’ financial profiles.
The startup claims to have nearly 2 million users and has processed over Rs 100 crore in credit repayments, reflecting strong early adoption. Oolka has also partnered with financial institutions such as YES Bank, IDFC First Bank, and AU Small Finance Bank to power its credit marketplace offerings.
