Oolka raises $14 million for AI-powered credit and finance platform
Oolka has closed a $14 million Series A funding round led by Accel, with participation from existing investors Lightspeed and Z47. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also invested personally.
The startup, founded in 2024 by Utkrishta Kumar, builds AI agents that help users manage credit health and broader financial decisions. The platform diagnoses credit issues and offers personalized recommendations to resolve them.
Current traction and product scope
Oolka has attracted over 6 million registered users and generated annual recurring revenue exceeding $2.5 million. The company has partnered with major lenders including IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance, and InCred.
The fresh capital will fund AI engineering improvements, expand the product beyond credit management, and deepen bank and non-banking financial company partnerships.
Market opportunity
Over 420 million Indians now have a credit history, but many lack clarity on managing their credit profiles. Sarthak Singh of Accel said Oolka could become "the country's first intelligent financial companion" for underserved consumers.
Harsha Kumar of Lightspeed noted that while India has built strong credit infrastructure, users need practical guidance on credit management. "Oolka helps close that gap by offering actionable guidance," he said.
Founder Utkrishta Kumar said the company aims to shift financial services from transaction-focused to action-oriented. "Financial services in India have been transaction-led for too long," he said. "We are building AI agents that help users manage their financial life and take actions based on their context."
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