Fintech With Foresight: AI-Powered Oolka Secures $7 Million In Funding From Lightspeed India, Z47 And Others

Oolka, a rising AI-driven fintech startup focused on credit infrastructure and underwriting intelligence, has raised $7 million in a fresh funding round led by Lightspeed India, with participation from Z47 and several strategic angel investors. The capital infusion marks a pivotal moment in Oolka’s growth journey, enabling the company to scale its AI capabilities, expand its product suite, and deepen partnerships with financial institutions across India.

 

Founded in 2022, Oolka has quickly positioned itself as a key enabler of smarter, faster, and more inclusive lending decisions. Its proprietary AI stack is designed to help banks, NBFCs, and fintech platforms assess borrower risk with greater precision, especially in underserved and thin-file segments.

 

Key Highlights From The Funding Round

 

- Oolka raised $7 million in equity funding led by Lightspeed India  

- Z47 and select angel investors also participated in the round  

- Funds will be used to expand engineering, data science, and go-to-market teams  

- Oolka aims to enhance its AI underwriting engine and launch new credit APIs  

- The company plans to onboard over 50 financial institutions by mid-2026  

 

Technology Stack And Product Vision

 

Oolka’s core offering revolves around an AI-powered credit infrastructure layer that integrates seamlessly with lenders’ existing systems. The platform uses alternative data, behavioral analytics, and real-time transaction insights to generate dynamic credit scores and risk models.

 

Key product features include:

 

- AI-based underwriting engine for real-time credit decisioning  

- APIs for income estimation, fraud detection, and repayment forecasting  

- Modular architecture for easy integration with loan origination systems  

- Support for unsecured, secured, and embedded lending use cases  

- Continuous learning models that adapt to borrower behavior and macro trends  

 

The company is also developing a suite of tools for co-lending, BNPL, and digital KYC, aimed at improving operational efficiency and regulatory compliance.

 

Market Position And Strategic Differentiation

 

Oolka operates in a competitive space dominated by legacy credit bureaus and emerging fintech data platforms. Its differentiation lies in its AI-first approach, which enables lenders to go beyond static credit scores and tap into real-time borrower intelligence.

 

Strategic advantages include:

 

- Ability to underwrite thin-file and new-to-credit customers  

- Faster turnaround times for loan approvals and disbursements  

- Improved portfolio performance through predictive risk modeling  

- Enhanced fraud detection using behavioral and device-level signals  

 

The startup has already partnered with several NBFCs and digital lenders, and is in advanced discussions with private sector banks for pilot deployments.

 

Investor Commentary And Ecosystem Impact

 

Lightspeed India, which has backed fintech leaders like Razorpay and Slice, views Oolka as a foundational layer for the next generation of credit infrastructure. Z47, a sector-focused fund, emphasized Oolka’s potential to unlock credit access for millions of underserved borrowers.

 

The funding round also saw participation from fintech veterans and data science experts, signaling strong ecosystem support for Oolka’s mission.

 

Impact on the ecosystem includes:

 

- Acceleration of AI adoption in traditional lending workflows  

- Democratization of credit access through smarter underwriting  

- Creation of new benchmarks for risk management and compliance  

- Strengthening of India’s digital financial infrastructure  

 

Growth Roadmap And Hiring Plans

 

With fresh capital in hand, Oolka plans to:

 

- Double its engineering and data science teams by Q2 FY26  

- Expand operations to Tier II and Tier III cities through partner networks  

- Launch a developer portal for easy API access and sandbox testing  

- Host a fintech innovation summit in early 2026 to showcase use cases  

 

The company is also exploring international expansion, with Southeast Asia and Africa identified as potential markets for its AI underwriting stack.

 

Sources: YourStory, Inc42, Lightspeed India Portfolio Updates, Fintech Futures India.