Oolka Secures Series A Funding
Fintech startup Oolka has raised ₹130 crore (approximately $14 million) in a Series A funding round, led by Accel.
The round also saw participation from existing investors:
- Lightspeed
- Z47
Additionally, Vidit Aatrey and Sanjeev Barnwal participated in a personal capacity.
Valuation and Funding Structure
According to regulatory filings, Oolka has been valued at approximately ₹730 crore ($87.6 million) post-money.
The company issued:
- Equity shares
- Series A compulsorily convertible preference shares (CCPS)
at a price of ₹51,835.79 per share to raise the funds.
Utilisation of Funds
Oolka plans to use the fresh capital for:
- Business expansion
- Product development and scaling
- Capital expenditure
- General corporate purposes
The focus remains on accelerating growth and strengthening its market presence.
Building an AI-Powered Credit Platform
Founded in 2024 by Utkrishta Kumar, Oolka is developing an AI-powered credit management platform.
The platform helps users:
- Track their credit health
- Manage credit usage
- Improve credit scores
It focuses on execution-led credit improvement, rather than just tracking scores.
Partnerships and Ecosystem Integration
Oolka has partnered with several financial institutions to support its credit marketplace, including:
- Yes Bank
- IDFC Bank
- AU Small Finance Bank
These partnerships enable the platform to offer integrated financial solutions to users.
Growth Metrics and Traction
At the time of its previous funding round, Oolka reported:
- Around 2 million users
- Over ₹100 crore in credit repayments processed
- Projected annual recurring revenue (ARR) to cross $1 million
These numbers indicate early traction in the credit management space.
Financial Performance
As of FY25:
- Revenue: ₹5.52 lakh
- Loss: ₹5.58 crore
The company was still in a pre-revenue growth phase, focusing on building its product and user base.
Competitive Landscape
Oolka operates in a growing fintech segment focused on credit health and improvement.
Key competitors include:
- GoodScore
- OneScore
- Paisabazaar
- CRED
While many platforms focus on credit score tracking, Oolka differentiates itself by offering actionable credit improvement solutions.
Final Thoughts
Oolka’s ₹130 crore Series A funding highlights growing investor interest in AI-driven fintech solutions, particularly in the credit management space.
With strong backing from leading investors, early user traction, and a clear focus on improving credit behavior, the startup is positioning itself in a niche yet expanding market.
As financial awareness and credit usage continue to grow in India, platforms like Oolka could play a crucial role in shaping consumer financial health.
