Oolka raises Rs 130 Cr in Series A funding round led by Accel
The funding round also saw participation from existing investors Lightspeed and Z47 (formerly Matrix Partners India).
Credit management platform Oolka’s board on Friday approved a Rs 130-crore funding round led by Accel India along with existing investors Lightspeed and Z47 (formerly known as Matrix Partners India).
According to a filing, Sixdix Texhnology Pvt Ltd approved a resolution to allot 10 equity shares of a face value of Rs 10 each at a premium of Rs 51,825.29 per equity share and 24,995 Series A CCPS of a face value of Rs 100 each at a premium of Rs 51,735.
Accel India invested Rs 87.22 crore, while Lightspeed India doubled down with Rs 20.87 crore and Matrix Partners India with Rs 19.62 crore.
The company’s recent fundraise comes months after it raised $7 million from Lightspeed India Partners and Z47, with participation from 8i Ventures and a roster of angel investors, including Meesho's Vidit Aatrey and Sanjeev Barnwal, and M2P head Madhusudanan R.
Founded in 2024 by former Meesho executive Utkrishta Kumar, Oolka is building what it calls India’s first agentic AI credit management platform. As of September, the platform was used by nearly 2 million people and had processed more than Rs 100 crore in repayments. It is nearing $1 million in annual recurring revenue.
According to Entrackr, the latest fundraise values the company at around Rs 730 crore (about $87.6 million) post-money.
Oolka competes with GoodScore, a Bengaluru-based startup that helps consumers manage and improve their credit health. GoodScoreraised $13 million in a Series A funding round in October last year, led by Peak XV Partners, with participation from Stellaris Venture Partners and Saison Capital.
Edited by Swetha Kannan