Fintech startup Oolka has raised US$14 million in a Series A funding round led by Accel.
Existing investors Lightspeed and Z47 (Matrix Partners India) also joined the round. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also invested their own money in the company.
The company will use the new funds to grow its product and engineering teams and build AI tools. These tools will help customers improve their credit scores and get loans at lower interest rates.
It also plans to partner with more banks and non-banking finance companies, so customers have more options when choosing a loan.
“We are currently looking at helping them to manage their savings and loan products better, the target is to help them save more rather than build investment products right away,” Oolka founder Utkrishta Kumar said.
“We have some features which are freely available for the consumer, for advanced features there is a paid subscription model available,” Kumar said.
Founded in 2024 by Utkrishta Kumar, Oolka, based in Bengaluru, is an AI-powered financial platform that helps people manage and improve their credit health. It uses AI tools to find credit problems, improve credit scores, and give personalized advice on loans.
The company aims to become a complete financial platform, helping users not just with credit but also with overall money management.
Oolka says it has over 6 million users and earns about $2.5 million in yearly recurring revenue. It also partners with lenders like IDFC First Bank, DMI Finance, L&T Finance, DSP Finance, and InCred.
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