Fintech Startup Oolka Secures $13.8M Series A Funding

 

Fintech startup Oolka has raised Rs 130 crore (~$13.8 million) in a Series A funding round led by Accel India, with participation from existing investors.

The board of Oolka has approved a resolution to allot 10 equity shares and 24,995 Series A compulsorily convertible preference shares (CCPS) at an issue price of Rs 51,835.79 per share to raise the aforesaid amount, according to regulatory filings reviewed by Entrackr.

The round was led by Accel India with an investment of Rs 87.22 crore, followed by existing investors Lightspeed and Z47 (formerly Matrix Partners), which infused Rs 20.87 crore and Rs 20.86 crore, respectively. Moreover, Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also participated personally in the round with Rs 32.65 lakh each.

As per the filings, the proceeds from the issue will be used to fund the company’s expansion and growth, including capital expenditure and general corporate purposes.

According to Entrackr’s analysis, Oolka is valued at around Rs 730 crore (approximately $87.6 million) post-money. The Bengaluru-based startup had previously raised $7 million in a seed round led by Lightspeed and Z47.

Queries sent to Oolka, Accel and Z47 did not elicit responses until publication of the story.

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. At the time of its last round, the company claimed to have nearly 2 million users and to have processed over Rs 100 crore in credit repayments, with ARR projected to cross $1 million soon. It has partnered with institutions such as Yes Bank, IDFC Bank, and AU Small Finance Bank to support its credit marketplace.

The Bengaluru-based company was in a pre-revenue stage as of FY25, reporting revenue of Rs 5.52 lakh and a loss of Rs 5.58 crore. The company is yet to file its annual results for FY26.

Oolka’s closest direct competitor is GoodScore, as both focus on AI-led credit improvement and personalised guidance. In October last year, GoodScore raised $13 million led by Peak XV. Other platforms like OneScore, Paisabazaar, and CRED overlap through credit score tracking and recommendations, but are less focused on execution-led credit improvement.

Source: Entrackr