Oolka raises $14 mn in Series A funding to build AI-driven financial agents

Accel-led funding round backs Oolka's plan to scale AI financial agents and expand into a full-stack consumer finance platform in India

Oolka, a startup building AI agents for consumer finance, said it has raised $14 million in its Series A round. The round was led by Accel, with participation from existing investors Lightspeed and Z47. Meesho co-founders Vidit Aatrey and Sanjeev Barnwal also invested in a personal capacity.

 

Founded by Utkrishta Kumar in 2024, Oolka is building a system of AI agents that empower users across the financial lifecycle, from diagnosing credit issues to guiding resolution end-to-end with personalised recommendations. It now plans to extend into a full-stack financial operating system for the Indian consumer.

 

“Financial services in India have been transaction-led for too long, leaving consumers to figure things out on their own,” said Utkrishta Kumar, founder and chief executive officer of Oolka. “We are flipping that model — Oolka is building AI agents that help users manage their financial life and take actions based on their context. This is just the starting point as we expand from credit to every financial decision an Indian consumer makes.”

 

The capital will be used to scale Oolka’s AI engineering team, expand its agentic capabilities beyond credit, and grow the company’s partnerships with banks and non-banking financial companies (NBFCs).

 

Sarthak Singh, investor at Accel, said, “Oolka is building the country’s first intelligent financial companion: one that begins by helping consumers take control of their credit health and loan obligations, and evolves into a comprehensive financial adviser for the hundreds of millions who have never had one.”

 

Oolka has already crossed $2.5 million in annual recurring revenue (ARR), along with more than 6 million registered users, with live partnerships across leading lenders including IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance and InCred.

 

Harsha Kumar, partner at Lightspeed, said India has built strong credit infrastructure, but most consumers are still left to figure it out on their own. Most have poor credit scores and do not have enough knowledge about what is affecting their score. “Oolka helps close that gap by giving borrowers real, practical guidance instead of just static information,” Kumar said. “Its AI finance companion can actively guide users through financial decisions, which is a big shift for the industry. In a country where credit penetration is still low, the opportunity is massive. Early traction speaks for itself, and we are doubling down with conviction.”

 

Anish Patil, investor at Z47, said Oolka’s AI companion puts users in control of their credit decisions and delivers real, contextual, and transparent outcomes at an affordable price.

 

India’s credit ecosystem is expanding rapidly. Over 420 million Indians now have a credit history, with the active borrower base growing 1.5 times in the last four years to 28.3 crore in FY25. Credit awareness is also rising sharply. According to CIBIL, 119 million individuals are actively tracking their credit scores, a 51 per cent year-on-year increase.

 

Oolka said it is the only AI-native credit platform operating at meaningful scale. It is built to not just surface financial problems, but empower users to resolve them. Designed for a new generation of borrowers, Oolka represents a shift from monitoring financial health to actively managing it.