Oolka raises $14 million to build AI-driven financial platform

Written by Parth Prabhudesai

Oolka has raised $14 million in a Series A funding round led by Accel with participation from existing investors Lightspeed and Z47. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also participated in the round in their personal capacities.

Founded in 2024 by Utkrishta Kumar, Oolka builds AI-powered agents to help users manage their financial lives, starting with credit health and expanding into a full-stack financial operating system. The platform provides personalized recommendations and helps users diagnose and resolve credit-related issues.

“For too long, financial services in India have been transaction-driven,” he said. Utkrishta Kumar, Founder and CEO, Oolka. “We are building AI agents that help users manage their financial lives and take actions based on context.”

The new capital will be used to strengthen Oolka’s AI engineering capabilities, expand its offerings beyond credit use cases, and deepen its partnerships with banks and non-banking financial companies (NBFCs).

Oolka has already gained traction, with more than 6 million registered users and more than $2.5 million in annual recurring revenue (ARR). We have partnered with leading financial institutions such as IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance, and InCred.

Investors highlighted the platform’s potential in addressing gaps in India’s growing credit ecosystem. “Oolka is building the country’s first intelligent financial companion.” Axel Sartak Singhadded that it has the potential to evolve into a comprehensive financial advisor for millions of underserved consumers.

lightspeed harsha kumar Although India has developed a strong credit infrastructure, many users indicated that managing their credit profile was not clear. “Oolka helps bridge that gap by providing practical, actionable guidance,” he said.

With over 420 million Indians currently having a credit history and credit consciousness rapidly increasing, Oolka aims to move consumer finance from passive monitoring to active financial management powered by AI.