Oolka, a Bengaluru startup that builds AI agents to help consumers fix credit problems, raised a Series A of ₹130 crore (about $14m) led by Accel, according to announcements from Z47 and Indian press reports at the end of April 2026.
Existing investors Lightspeed and Z47, formerly Matrix Partners India, took part. Vidit Aatrey and Sanjeev Barnwal, co-founders of e-commerce company Meesho, invested in a personal capacity. Z47 said it had backed Oolka at seed stage.
Entrepreneur India, citing regulatory filings, reported that Accel India put in ₹87.22 crore, with Lightspeed and Z47 contributing about ₹20.87 crore and ₹20.86 crore. Z47 did not disclose a valuation, and Entrepreneur India said one was not disclosed either.
“Financial services in India have been product-led for too long, leaving consumers to figure things out on their own.”Utkrishta Kumar, founder and CEO, Oolka
What Oolka does
Oolka describes itself as a system of AI agents for consumer finance. It starts with credit: the agents diagnose problems in a user's credit profile and guide the user through fixing them with personalised recommendations. Entrepreneur India described tasks such as identifying inactive accounts, correcting inaccuracies, negotiating lower interest rates and raising credit limits.
The company was founded in 2024 by Utkrishta Kumar, previously chief business officer at Meesho, who is its chief executive. Z47 named Harsh Tripathi, formerly vice president of technology at Paytm, as chief technology officer, and Jatin Mazalcar, formerly chief financial officer at Meesho, as chief financial officer.
Entrepreneur India listed GoodScore as the closest direct rival and described OneScore, Paisabazaar and CRED as operating in adjacent areas.
Traction
According to Z47, Oolka has $2.5m in annual recurring revenue and more than 6 million registered users. It said the company has live partnerships with IDFC FIRST Bank, DMI Finance, L&T Finance, DSP Finance and InCred.
Entrepreneur India gave older figures, saying that as of the previous round the company had about 2 million users, more than ₹100 crore in credit repayments processed and projected annual recurring revenue above $1m. It named Yes Bank, IDFC Bank and AU Small Finance Bank as banking partners. The two sets of figures were not reconciled in either report, so the Z47 numbers are best read as company-side figures relayed by an investor.
Entrepreneur India reported that Oolka had earlier raised $7m in a seed round led by Lightspeed and Z47.
What the money is for
Z47 said the funding will expand Oolka's AI engineering team, extend its agents beyond credit into the full consumer financial stack, and deepen its lender partnerships. The regulatory filings cited by Entrepreneur India described the use of proceeds more generally, as expansion plans including capital expenditure and general corporate purposes.
Kumar said: "Financial services in India have been product-led for too long, leaving consumers to figure things out on their own." Sarthak Singh of Accel said what stood out was the depth of consumer trust. Harsha Kumar, a partner at Lightspeed, said the product's AI finance companion can actively guide users through financial decisions, which he called a big shift for the industry.
Anish Patil of Z47 said the firm is a believer in the potential of AI to transform how Indians access and experience financial services. Neither source gave Oolka's headcount.
Company website: oolka.in