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The Indian fintech sector continues to witness significant investment momentum, with Bengaluru based consumer lending platform Olyv announcing a $23 million Series C funding round. The investment, which amounts to INR 207 crore, has been backed by two prominent investors: The Fundamentum Partnership, founded by Infosys co-founder Nandan Nilekani, and SMBC Asia Rising Fund, the corporate venture capital division of Japan’s Sumitomo Mitsui Banking Corporation.
Strategic Capital Deployment
Olyv has outlined a balanced approach to utilizing the fresh capital. The company intends to channel fifty percent of the funds toward strengthening its Non Banking Financial Company (NBFC) operations, while dedicating the remaining half to business expansion initiatives and product enhancement. This strategic allocation reflects the startup’s dual focus on regulatory compliance and market growth.
Addressing the Credit Gap
Since its establishment in 2017 by Rohit Garg, Amit Chandel, Vinay Singh, and Jayant Upadhyay, Olyv has positioned itself as a solution provider for India’s underbanked population. The platform primarily caters to segments that traditionally face challenges in accessing formal credit, including micro merchants, self employed professionals, small business owners, and both blue collar and grey collar workers.
The company’s value proposition centers on leveraging alternative data sources and artificial intelligence driven assessment models to evaluate creditworthiness. This technological approach enables Olyv to extend credit to young and middle income consumers who may lack extensive traditional credit histories, thereby promoting broader financial inclusion.
Impressive Growth Trajectory
Olyv’s financial performance demonstrates substantial market traction. The company currently facilitates personal loans totaling Rs 4,000 crore on an annual basis. In the fiscal year 2025, the platform generated total revenues of Rs 350 crore while achieving profitability with a net income of Rs 26 crore. These metrics indicate operational efficiency alongside revenue growth.
Looking ahead, Olyv has set an ambitious target of reaching $1 billion in assets under management within the next three years. Co-founder Rohit Garg emphasized the company’s vision to evolve beyond a lending platform into a comprehensive financial services partner for Indians entering the formal credit ecosystem.
The investment endorsement from established entities like Fundamentum and SMBC validates Olyv’s business model and growth potential. As India’s digital lending landscape matures, supported by robust digital infrastructure, platforms like Olyv are well positioned to bridge the credit accessibility gap while maintaining prudent risk management practices.
