AI fintech Oolka to raise $12 million for smarter credit management
Oolka, a Bengaluru-based AI fintech startup, is set to raise $12 million in a funding round led by Accel, just months after its $7 million seed round with Lightspeed India Partners and Z47.
The fresh investment marks a big step for Oolka as it works to make credit management smarter and easier with AI.
Multi-agent AI app takes the stress out of loans
Founded by Utkrishta Kumar (formerly chief business officer at Meesho), Oolka's app uses multi-agent AI to help users keep track of credit, manage EMIs, consolidate debt, send reminders, and facilitate repayment management and lender interactions.
With partners like Yes Bank and IDFC First Bank, the goal is to make handling loans less stressful for everyone.
iOS support and live call features are on the way
Oolka's Android app already supports nearly 100 Indian languages and has drawn in almost 2 million users.
The platform has processed over 100 crore rupees in repayments and expects annual recurring revenue above $1 million.
Next up: iOS support plus voice and live call features to reach even more people.