Z47 and Lightspeed lead a $7 million seed round investment in Oolka, India's first agentic AI credit management platform, aimed at revolutionizing consumer credit management.

Target Information

Oolka is the pioneering agentic AI credit management platform in India, founded in 2024 by Utkrishta Kumar, who previously served as Chief Business Officer at Meesho. Under his leadership, Oolka aims to empower individuals in managing their credit health through innovative technology. The platform has gained significant support from an influential network of angel investors, including notable figures such as Vidit Aatrey, Sanjeev Barnwal, and Ramakant Sharma. With a robust team that also includes Harsh Tripathi, the former VP of Technology at PayTM, and Jatin Mazalcar, the former CFO at Meesho, Oolka is positioned to significantly impact the credit landscape in India.

To date, Oolka has already processed over ₹100 crore in repayments, serving nearly 2 million users. The company’s agentic AI technology works actively on behalf of its users by addressing inaccuracies in credit scores, facilitating the negotiation of better interest rates, and managing inactive accounts. This approach allows Oolka to fulfill its mission of democratizing access to financial health and making credit management accessible for every Indian.

Industry Overview

India is experiencing a transformative shift in credit behavior, reflecting a broader change in financial engagement among its populace. As of March 2024, approximately 119 million Indians actively monitored their credit scores, marking a 51% year-over-year increase in adoption. This upward trend