Oolka Raises $7M to Expand India’s First Agentic AI Credit Platform

Oolka, India’s first agentic AI credit management platform, has raised $7 million in Seed funding to expand its platform and accelerate product development. The round was led by Lightspeed India Partners and Z47, with participation from 8i Ventures and prominent angel investors including Vidit Aatrey, Sanjeev Barnwal, Ramakant Sharma, Abhishek Goyal, Rajesh Yabaji, Nitin Gupta, Madhusudan R, Anil Goteti, and Arnav Kumar.

AI-Powered Financial Companion for Credit Management

Founded in 2024 by Utkrishta Kumar, Oolka provides an AI-powered financial agent that helps users monitor and improve their credit health. The platform identifies actionable steps for users and, when permitted, can take personalised actions on their behalf.

“Oolka was founded on a simple belief that every Indian should have access to affordable credit,” said Utkrishta Kumar. “Our mission today is to democratise 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.”

Funding to Expand Teams and Product Capabilities

The funding will be used to expand Oolka’s engineering, data science, and product teams, and to develop advanced AI features. Plans include real-time credit improvement tools, a first AI-native consumer app for credit, and hyper-personalised user experiences powered by agentic AI.

To date, Oolka has processed over ₹100 crore in credit repayments and is approaching two million users, targeting $1 million in annual recurring revenue. The platform has partnerships with Yes Bank, IDFC Bank, AU Small Finance Bank, Muthoot Finance, and InCred to strengthen its credit marketplace.

Harsha Kumar, Partner at 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.”

Vikram Vaidyanathan, Investor and Managing Director, Z47, added, “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.”

Rising Credit Awareness Among Young Indians

India now has over 420 million people with a credit history. According to a March 2024 CIBIL report, 119 million individuals were actively tracking their credit scores, a 51% year-on-year increase in 2023–24. The majority of these users—77%—belong to Gen Z and millennials, indicating a rise in credit awareness among younger consumers.

Oolka aims to meet this demand by offering AI-driven credit management tools accessible to a new generation of borrowers.