Oolka, an AI-driven credit management platform, has secured $7 million in seed funding, led by Lightspeed India Partners and Z47, with additional contributions from 8i Ventures and a group of notable angel investors. Founded by Utkrishta Kumar in 2024, Oolka aims to democratize access to affordable credit in India through its innovative AI-powered financial agent, designed to help users monitor and enhance their credit health. The new funding will be used to expand Oolka’s engineering, data science, and product teams, and to accelerate the introduction of advanced AI features. The company plans to launch tools for real-time credit improvement and create an AI-native consumer app, while enhancing user experiences with personalized AI solutions. Since its launch, Oolka has facilitated over INR 100 crore in credit repayments, is nearing 2 million users, and is on track to exceed USD 1 million in annual recurring revenue. It has established partnerships with several banks and financial institutions to further its mission of improving credit wellness and financial inclusion across India.
Has Oolka Raised $7 Million to Expand Its AI Credit Platform?
