Accel will spearhead Oolka's $12 million funding round

Early-stage venture capital firm Accel is set to lead a $12 million funding round in AI-powered fintech startup Oolka, according to two people familiar with the matter. The upcoming round follows a $7 million investment the company raised in September last year, which was led by Lightspeed and Z47.

The startup has also attracted several prominent angel investors including Ramakant Sharma, Vidit Aatrey and Rajesh Yabaji.

Founded in 2023 by Utkrishta Kumar, who previously served as chief business officer at Meesho, Oolka operates a credit marketplace that connects consumers with lenders. The platform is integrated with banks including AU Small Finance Bank, Yes Bank and IDFC First Bank.

The company has also partnered with InCred to expand its lending ecosystem. Along with facilitating access to credit products, Oolka provides personalised financial guidance to consumers on managing credit needs, consolidating certain debt products and improving their financial profiles.

People familiar with the development said the startup is working on deploying artificial intelligence agents that can help users manage their borrowings and repayment schedules more efficiently while guiding them toward better financial decisions.

Queries sent to Oolka and Accel regarding the funding discussions did not receive a response.

The AI-driven financial services sector is currently witnessing strong investor interest, as founders and venture capital firms increasingly explore how artificial intelligence can improve customer experience and automate financial decision-making.

In an earlier interaction with the Economic Times in September 2025, Kumar said the platform already supports nearly 100 Indian languages and plans to introduce voice and live call features in the future to make financial services more accessible to a wider audience.