TLDR: Fintech startup Oolka is revolutionizing credit management in India with its Agentic AI, ‘Dhruva’. This AI goes beyond advice, taking direct action to track credit scores, suggest personalized solutions, negotiate with lenders, and rectify report errors on behalf of users, with their consent. Aiming to democratize credit awareness and financial freedom, Oolka supports nearly 100 regional languages and has secured $7 Mn in seed funding. The platform also prioritizes data security by anonymizing PII before AI processing.
Oolka, a year-old fintech startup, is positioning itself as a pioneer in India’s credit management segment by deploying what it claims are the nation’s first Agentic AI agents. Founder Utkrishta Kumar, a former Meesho CXO, named his brainchild after the Sanskrit word for meteor, reflecting the company’s mission to fulfill financial wishes for every Indian. Kumar stated, “When people see a shooting star, they make a wish. For an adult, the wish is usually of financial safety and improvement. Oolka wants to fulfil that wish for every Indian.”
Unlike traditional conversational AI, Oolka’s proprietary AI agent, Dhruva, adopts an ‘agentic’ approach, meaning it takes end-to-end actions rather than just answering questions or offering generalized guidance. This includes tracking credit scores, suggesting personalized solutions, and, crucially, taking remedial measures on behalf of the consumer once permission is granted. Kumar emphasized, “It goes beyond advising. It goes beyond just generalised guidance. It takes actions that help users improve their not just credit score, but the overall credit health.”
The startup, which competes with players like AbleCredit and FinBox, and offers a credit marketplace for financial products, has successfully raised $7 Mn in its seed funding round. Notable investors include Lightspeed India and Z47 (formerly Matrix Partners India).
Oolka’s AI-driven edge in credit management stems from the realization that millions of Indians, despite increased online accessibility, still struggle with credit awareness and improving their credit health. Kumar noted, “Millions of Indians were able to buy online but still struggled with credit awareness, loan repayments, and improving their credit health.” He added, “While ecommerce made options accessible to us, the next step was to democratise credit.”
The AI agents are designed to analyze credit reports, identify issues, propose corrective actions, and then engage directly with lenders or credit bureaus. For instance, in one case study, Oolka’s Agentic AI flagged a user’s home loan in Meghalaya for having a higher-than-market interest rate. With the user’s consent, the agent initiated negotiations with the lender, successfully reducing the rate following a repo rate revision. In another scenario, Oolka identified incorrect updates in a credit report, showing a paid loan as unpaid. Kumar highlighted, “Our ability to not just spot it and flag it to the user, but also to directly engage with the bureau through Agentic AI, log a ticket and, on behalf of the user, help rectify the errors.”
Users can access Oolka’s Agentic AI services without needing to borrow from the platform. By logging in and granting access to their credit report, the AI scans for opportunities to save money or improve creditworthiness. The platform also facilitates timely EMI payments to consistently boost credit scores. Kumar observed, “Working closely with India’s mass-aspirational users, I noticed that most borrowers didn’t lack the intent to repay – they lacked visibility, structure, and trustworthy guidance.”
Data security is a paramount concern for Oolka, given the sensitive nature of financial information. Manas Gond, founder of AI-led tax management platform Prosperr.io, explained that data transfer typically occurs in two stages: initially, anonymized data is shared with banks, and then, with explicit user permission and a valid offer, hard data is shared. Oolka claims to anonymize all Personally Identifiable Information (PII) such as PAN card numbers, phone numbers, and email IDs before processing. Kumar asserted, “We do not send any PII data to LLMs for context building,” ensuring that Oolka’s Large Language Models (LLMs) analyze abstract constructs and patterns without direct access to identifying details.
Looking ahead, Oolka has partnered with over a dozen banks and NBFCs, including IDFC, AU Bank, and Yes Bank, to offer financial products like credit cards, fixed deposits, and loans. Kumar anticipates significant revenue from cross-selling these products as user trust in the AI agents grows. The startup reported an annual recurring revenue (ARR) of nearly $1 Mn in FY25, with loan and card repayment amounts exceeding INR 100 Cr.
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Oolka operates in a rapidly evolving fintech landscape where Agentic AI is gaining traction for various applications, including merchant retention in online marketplaces. The Indian government is also embracing AI, with the National Payments Corporation of India (NPCI) recently announcing an Agentic AI pilot framework for UPI, signaling a shift towards ‘intelligent commerce.’ Oolka plans to introduce a live voice agent within the next two months, expand its network of banking partners, and roll out additional AI agents to further enhance financial management for its users.
