Oolka Raises $7 Million Led by Lightspeed to Scale AI Credit Platform in India

Oolka, a Bengaluru-based AI startup founded by former Meesho executive Utkristha Kumar, has raised $7 million in a seed funding round led by Lightspeed India Partners and Z47, with participation from 8i Ventures and notable angel investors including Meesho's founders. The company offers India's first agentic AI credit management platform, which acts as an active financial companion, monitoring credit profiles, suggesting improvements, and, with user consent, directly negotiating on their behalf to optimize credit outcomes. Oolka serves nearly two million users and has processed over Rs 100 crore in credit repayments, with annual recurring revenue approaching $1 million. The fresh capital will be used to expand engineering, data science, and product teams, accelerate the rollout of advanced AI features including voice-based services, and launch real-time credit improvement tools. The platform partners with financial institutions like Yes Bank, IDFC Bank, and AU Small Finance Bank and supports nearly 100 Indian languages, aiming to democratize access to affordable finance and improve financial health through personalized AI-driven assistance. Oolka's unique multi-agentic AI system minimizes errors and enhances user trust by providing hyper-personalized solutions and proactive interventions in credit and personal finance decisions.