Oolka Raises $7M Led by Lightspeed for AI Credit Platform

New Delhi, Sep 24 (PTI) AI start-up Oolka on Wednesday said it has raised USD 7 million (about Rs 62 crore) in a funding round led by Lightspeed to scale up its agentic AI credit management platform.

Founded by Meesho's chief business officer Utkristha Kumar, Oolka received funds from Meesho founders as well.

The funding round saw participation from venture capital firms India Partners and Z47, along with a group of prominent angel investors.

The angel investors who funded the company include Meesho founders Vidit Aatrey and Sanjeev Barnwal, Livspace founder Ramakant Sharma, Traxcn founder Abhishek Goyal, Black Buck founder Rajesh Yabaji, Uni Cards founder Nitin Gupta, M2P Fintech founder Madhusudan R, Scapia founder Anil Goteti, and Leap Finance founder Arnav Kumar, the company said in a statement.

"Oolka, India's first agentic AI credit management platform...has raised USD 7 million in seed funding. The round was led by Lightspeed India Partners and Z47, with participation from 8i Ventures and a group of prominent angel investors," the statement said.

Kumar said Ookla was founded on a simple belief that every Indian should have access to affordable finance.

"Our mission today is to democratise access to better credit and financial health through agentic AI. We are scaling an industry-first multi-agentic AI platform that could be the active companion for every credit and personal finance decision in India," he said.

Since its inception, Oolka claims to have processed over Rs 100 crore in credit repayments and is approaching 20 lakh users. The company is on track to cross USD 1 million (about Rs 8.5 crore) in annual recurring revenue.

"The newly secured funding will be instrumental in scaling Oolka's engineering, data science, and product teams, while accelerating the rollout of advanced AI features. Oolka aims to launch new tools for real-time credit improvement, build the first AI-native consumer app in credit, and invest in hyper-personalised user experiences powered by agentic AI," the statement said.

Oolka said it has established partnerships with leading financial institutions, including Yes Bank, IDFC Bank, AU Small Finance Bank, Muthoot Finance, and InCred, to strengthen its credit marketplace.

"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 behaviour, Oolka is uniquely positioned to elevate credit wellness for millions," Lightspeed Partner Harsha Kumar said.