Bengaluru-based credit management startup Oolka has raised Rs 130 crore in a Series A funding round led by Accel India, marking a fresh investor push into India’s growing credit health and personal finance technology space.
The round values Oolka at around Rs 730 crore. Accel India invested Rs 87.22 crore, while existing investors Lightspeed and Z47, formerly Matrix Partners, put in Rs 20.87 crore and Rs 20.86 crore respectively. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also joined the round with Rs 32.65 lakh each.
Oolka will use the capital for expansion, working capital needs, capital expenditure and general corporate purposes.
Founded in 2024 by Utkrishta Kumar, Oolka is building an AI-powered credit management platform that helps users track, manage and improve their credit health. The company had earlier raised $7 million in a seed round led by Lightspeed and Z47.
At the time of its previous round, Oolka had nearly 2 million users and had processed more than Rs 100 crore in credit repayments. It has also partnered with institutions including Yes Bank, IDFC First Bank and AU Small Finance Bank to support its credit marketplace.
Financially, Oolka was still at a pre-revenue stage in FY25, reporting revenue of Rs 5.52 lakh and a loss of Rs 5.58 crore. The company is yet to file its FY26 annual results.
GoodScore, which specializes in AI-based credit score improvement and financial advice, emerges as Oolka’s nearest competitor. However, other competitors like OneScore, Paisabazaar, and CRED offer services related to credit score monitoring and financial advice, although it seems that Oolka is more concentrated on implementing credit score improvements than the others.
The funding comes at a time when credit awareness, repayment behaviour and financial discipline are becoming larger consumer fintech themes in India. For Oolka, the challenge now will be to convert early user scale and investor confidence into sustainable revenue.
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