Oolka Raises $14M Series A Led by Accel for AI Credit Platform

Fintech startup Oolka has successfully raised $14 million in its Series A funding round. The round was led by Accel, with significant participation from Lightspeed and Z47. Notably, Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also contributed to the funding.

Oolka, which utilizes artificial intelligence to assist consumers in improving their credit scores, intends to use the newly acquired capital to expand its AI engineering team, enhance its agentic AI capabilities, and strengthen institutional partnerships with lenders such as banks and NBFCs. The company also aims to broaden its product offerings beyond credit management, with aspirations to develop a comprehensive “financial OS” for Indian consumers.

Founded in 2024 by former Meesho executive Utkrishta Kumar, Oolka addresses the existing gap in active personal financial management. The startup deploys AI-powered agents designed to help users monitor their credit health, access credit facilities, and take proactive steps toward financial planning. With user permission, these agents can also undertake remedial actions to improve credit health on the consumer’s behalf.

The startup also operates a credit marketplace, where its AI agents recommend, distribute, and cross-sell financial products, including credit cards, fixed deposits, and loans. Oolka currently collaborates with lending partners such as IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance, and InCred, among others. The company reports having acquired 6 million users and achieving an annual recurring revenue (ARR) of $2.5 million.

Prior to this Series A round, Oolka had raised $7 million in its seed funding round, co-led by Lightspeed and Z47, with contributions from 8i Ventures and several angel investors. Including the latest funding, Oolka has now raised a total of $21 million.

The increasing awareness of credit health in India, driven by the rise in digital transactions and lending, has created a fertile ground for startups like Oolka. These companies are leveraging emerging trends to not only help users manage and improve their credit scores but also to recommend and cross-sell financial products tailored to individual needs, based on user data analysis.

This development follows recent funding activities in the credit management space. Earlier in the week, Credillio raised ₹100 Cr to scale its FD-backed credit card platform, novio, which also focuses on analyzing and improving users’ credit scores. Competitors in this sector include established platforms like CRED, OneScore, and CreditSeva, with GoodScore having previously raised $13 million in its Series A round for its AI-driven credit score management insights.