Oolka, India’s first agentic AI credit management platform, today announced it has raised $7 million in Seed funding. The round was led by Lightspeed India Partners and Z47, with participation from 8i Ventures and a group of prominent angel investors, including Vidit Aatrey, Sanjeev Barnwal, Ramakant Sharma, Abhishek Goyal, Rajesh Yabaji, Nitin Gupta, Madhusudan R, Anil Goteti, Arnav Kumar, and others.
Founded by Utkrishta Kumar in 2024, Oolka is building an AI-powered financial agent that helps users not only track but actively improve their credit health. It identifies actionable steps and, when permitted, takes personalised actions on the user’s behalf.
“Oolka was founded on a simple belief that every Indian should have access to affordable credit”, said Utkrishta Kumar, Founder of Oolka, “Our mission today is to democratize access to better credit and financial health through agentic AI. This mission is built on trust since our users rely on us to handle one of the most important aspects of their lives, their credit. We are scaling an industry-first multi agentic AI platform that could be the active companion for every credit & personal finance decision in India.”
The newly secured funding will be instrumental in scaling Oolka’s engineering, data science, and product teams, while accelerating the rollout of advanced AI features. Oolka aims to launch new tools for real-time credit improvement, build the first AI-native consumer app in credit, and invest in hyper-personalized user experiences powered by agentic AI.
Since its inception, Oolka has already processed over ₹100 crore in credit repayments, is approaching 2 million users, and is on track to cross $1 million ARR. The platform has established partnerships with leading financial institutions, including Yes Bank, IDFC Bank, AU Small Finance Bank, Muthoot Finance & InCred to strengthen its credit marketplace.
Harsha Kumar, Partner, Lightspeed said; “We are thrilled to support Oolka as they redefine credit empowerment in India. With their AI-driven focus on actionable credit insights, seamless EMI management, and rewards for responsible financial behavior, Oolka is uniquely positioned
to elevate credit wellness for millions. We look forward to partnering with Utkrishta and the team as they scale their mission and drive deeper financial inclusion across the country.”
Speaking about the seed round, Vikram Vaidyanathan, Investor and Managing Director, Z47 said: “Millions of Indians are striving to improve their credit health, it’s the need of the hour, both for them and for the financial services ecosystem. Oolka’s AI-powered financial companion offers a differentiated journey: it diagnoses a user’s financial situation and charts a personalized path forward, focused on improving daily habits and actions. We believe Oolka is well-positioned to build deep trust and become the financial companion of choice. Wishing Utkrishta and the team godspeed on their journey ahead.”
India now has over 420 million people with a credit history. A CIBIL report released in March 2024 further highlights the surge in credit awareness: 119 million individuals were actively tracking their credit scores, a remarkable 51% year-on-year increase in 2023–24.
India’s credit revolution is being driven by its young population, with 77% of these 119 million credit-monitoring consumers belonging to Gen Z and millennials, showing that younger borrowers are becoming increasingly credit-aware. Oolka is positioned to address this surge in demand by offering AI-driven credit management that is accessible and actionable for a new generation of borrowers. Oolka aims to serve this generation with its AI platform, helping them strengthen their credit health and access affordable credit through AI agents designed to be their trusted financial companion.
About Oolka
Oolka is India’s first agentic AI-powered credit management platform. Founded in 2024 by Utkrishta Kumar, Oolka empowers individuals to take actionable steps toward improving their financial and credit health. Its mission is to democratize access to better credit and long-term financial wellness through the power of agentic AI. With over ₹100 crore in credit repayments processed and close to 2 million users already, Oolka aims to be at the forefront of the financial revolution of aspirational India.
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