Fintech lender Olyv has secured USD 23 million (~INR 208 crore) in fresh funding led by Nandan Nilekani-backed Fundamentum Partnership with participation from Japan’s banking titan, Sumitomo Mitsui Banking Corporation (SMBC) via its Asia Rising Fund. Olyv Series B funding round is an important step for the company. It will help the company grow from a small digital lender to a full-service financial services partner for India’s “next billion” consumers who don’t have access to traditional banking.

Olyv Series B Funding: Utilization of Proceeds

Olyv plans to deploy the proceeds to expand into insurance distribution, UPI-led payments, and unsecured business loans for self-employed customers. The firm is also weighing an insurance broking license and will allocate part of the capital to strengthen its NBFC balance sheet and product stack.

Financial Performance

The Bengaluru-based platform reports more than 2 million monthly active users and over 5 crore app downloads. Since inception, Olyv has disbursed around 70 lakh loans, facilitating cumulative transactions exceeding INR 10,000 crore. For FY25, the company pegs revenue at ~INR 340 crore with a net profit of INR 26 crore.

“This round will help us scale the business and expand our product offerings,” said Rohit Garg, co-founder and CEO, adding that Olyv aims to be a full‑stack financial partner for underbanked users.

“Olyv’s credit‑first, tech‑led model is aligned with the digital lending ecosystem’s next phase of maturity,” said Mayank Kachhwaha, investor and fintech thesis lead at Fundamentum. SMBC executives highlighted the use of AI‑driven models and alternative data for risk management.

Olyv: Business Overview

Formerly known as SmartCoin, Olyv was founded by Rohit Garg, Amit Chandel, Vinay Singh and Jayant Upadhyay, and focuses on small-ticket personal credit in non‑metro markets. The company targets scaling to 10 crore users and building over USD 1 billion (~INR 9,060 crore) in assets under management over the next few years; Unitus Capital advised on the transaction. Execution, underwriting quality and evolving RBI norms around digital lending remain key variables.

Olyv Series B Funding Round Highlights

• Amount raised: USD 23 million (~INR 208 crore), led by Fundamentum; SMBC Asia Rising Fund participated.
• Use of proceeds: Expand into insurance, UPI and business loans; strengthen product and NBFC capital base.
• FY25 performance: Revenue about INR 340 crore; PAT INR 26 crore.
• Scale: 2+ million MAUs; 5 crore+ app downloads; 70 lakh loans; INR 10,000+ crore cumulative value.
• Targets: 10 crore users and more than USD 1 billion (~INR 9,060 crore) AUM in the medium term.
• Advisor: Unitus Capital acted as financial adviser.

Conclusion

With a fresh pool from marquee backers, Olyv is positioning to move from a credit‑first app to a broader financial services platform. Delivering growth while maintaining asset quality and staying aligned with digital‑lending regulations will determine how quickly it can translate scale into sustained profitability.

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