Oolka raises $7 million seed funding led by Lightspeed India, Z47

AI credit management platform Oolka raises $7 million in seed funding led by Lightspeed India Partners and Z47, with plans to expand tech and product teams

Oolka, an agentic artificial intelligence (AI) credit management platform, has raised $7 million in seed funding led by Lightspeed India Partners and Z47.

 

The seed round also saw participation from 8i Ventures and a group of angel investors, including Vidit Aatrey, Sanjeev Barnwal, Ramakant Sharma, Abhishek Goyal, Rajesh Yabaji, Nitin Gupta, Madhusudan R, Anil Goteti and Arnav Kumar, among others.

 

The firm plans to utilise the funds to expand its technology and product teams.

 

“We are going to hire more data scientists and engineers because at the core of it, what we are building is a heavy tech product play. A lot of effort is going into orchestrating the right infrastructure to make LLMs (large language models) work to benefit the users,” said Utkrishta Kumar, founder, Oolka.

 

 

The Bengaluru-based company claims to have processed over Rs 100 crore in credit repayments with close to two million users. It added that it is on track to achieve $1 million in annual recurring revenue (ARR).

 

The company enables agentic AI to interact with users for financial decisions such as selecting the right credit card or loan recommendations.

 

“At the back end, we work with some of the best-known LLMs in the ecosystem, from OpenAI to Gemini. Having said that, we have spent a lot of our own effort in orchestrating this construct,” Kumar said.

 

He added that the company has an in-house AI team building models and has invested in robust evaluation processes to prevent hallucinations.

 

“We have kept the construct only around credit. We have not attempted to extend it to areas beyond credit, and we have a very robust evaluation framework,” Kumar said.

 

The platform has established partnerships with financial institutions including Yes Bank, IDFC Bank, AU Small Finance Bank, Muthoot Finance and InCred to strengthen its credit marketplace.