Oolka raises $14M to revolutionize India's credit health with AI

From 6M users to $2.5M in revenue, Oolka is reshaping how Indians manage credit. Can AI fix the gaps in India's financial system?

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2026 April 30 . 8:13 PM

2 min read

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Oolka raises $14M to revolutionize India's credit health with AI

By Parth Prabhudesai

Today

consumer tech
Digital Payments
digital payments infrastructure

Oolka has raised $14 million in a Series A funding round led by Accel, with participation from existing investors Lightspeed and Z47. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also joined the round in a personal capacity.

Founded in 2024 by Utkrishta Kumar, Oolka is building AI-powered agents to help users manage their financial lives, starting with credit health and expanding toward a full-stack financial operating system. The platform provides personalised recommendations, enabling users to diagnose and resolve credit-related issues.

"Financial services in India have been transaction-led for too long," said Utkrishta Kumar, Founder and CEO of Oolka. "We are building AI agents that help users manage their financial life and take actions based on their context."

The fresh capital will be used to strengthen Oolka's AI engineering capabilities, expand its product beyond credit use cases, and deepen partnerships with banks and non-banking financial companies (NBFCs).

Oolka has already gained traction, with over 6 million registered users and annual recurring revenue (ARR) exceeding $2.5 million. It has partnered with major lenders including IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance, and InCred.

Investors highlighted the platform's potential in addressing gaps in India's growing credit ecosystem. "Oolka is building the country's first intelligent financial companion," said Sarthak Singh of Accel, adding that it could evolve into a comprehensive financial adviser for millions of underserved consumers.

Harsha Kumar of Lightspeed noted that while India has developed strong credit infrastructure, many users lack clarity on managing their credit profiles. "Oolka helps close that gap by offering practical, actionable guidance," he said.

With over 420 million Indians now having a credit history and credit awareness rising rapidly, Oolka aims to shift consumer finance from passive monitoring to active, AI-driven financial management.