A Confident Bet in India’s Fintech Evolution
In a powerful vote of confidence for India’s maturing fintech ecosystem, Bengaluru-based Olyv, formerly known as SmartCoin is set to raise around $20 million in fresh funding. The round, led by Lightrock with Unitus Capital advising, comes at a time when digital lenders are facing heightened regulatory scrutiny from the Reserve Bank of India (RBI).
This isn’t a secondary transaction; every dollar raised will go straight into expanding Olyv’s operations — from scaling its technology backbone to widening credit access for millions of underserved Indians. For a fintech in a sector where compliance and consumer protection are under the microscope, this fresh investment marks both resilience and responsibility.
Credits: Bharat Fast
The Journey from SmartCoin to Olyv
Founded in 2017 by Vinay Kumar and Rohit Garg, both IIT alumni, Olyv was built around one core mission: to make credit simple, fair, and accessible. The platform bridges the financial gap for salaried employees, small business owners, and self-employed individuals who often find themselves excluded from traditional banking systems.
The founders combined data analytics, AI, and strong partnerships with major NBFCs like Vivriti Capital, Poonawalla Fincorp, and Aditya Birla Capital Finance to bring small-ticket loans to Tier-2 and Tier-3 cities. With a focus on transparency and speed, Olyv’s platform ensures that users not only get access to credit but also understand and manage it responsibly — a rare mix in today’s fast-paced fintech space.
Investor Faith Amid a Tougher Regulatory Climate
The timing of this fundraise couldn’t be more telling. The RBI’s stricter lending norms — especially around unsecured loans and co-lending frameworks — have compelled many fintechs to slow down their growth or rethink their strategies. Yet, Olyv has emerged stronger, precisely because of its compliance-first approach.
Its early backer, Lightrock, doubling down on investment sends a clear signal: startups that grow within the guardrails of governance are the future of fintech. By combining profitability with prudence, Olyv stands as a model of what sustainable financial innovation can look like in India.
Financial Inclusion Meets Technological Precision
Olyv’s success lies in its AI-driven credit evaluation system. Using real-time analytics, the platform quickly assesses a borrower’s creditworthiness while ensuring responsible lending. This not only reduces the risk of defaults but also helps borrowers improve their financial health — a win-win for both sides.
The company’s impact is visible in its numbers. Olyv reported a 76% surge in revenue to ₹250 crore in FY2024, alongside an 80% growth in its active user base, now crossing 2.6 million borrowers. Such traction showcases India’s growing appetite for ethical, transparent, and tech-led lending solutions.
Aiming Higher: $1 Billion AUM in Three Years
The fintech now has ambitious plans. Olyv aims to grow its revenue to ₹350 crore in FY2025, a 40% year-on-year jump, while targeting a $1 billion AUM (Assets Under Management) milestone within the next three years.
The new funding will power major technology upgrades — from refining risk assessment tools to launching new financial products such as credit-health trackers, micro-savings plans, and embedded insurance offerings. Olyv also plans to deepen its partnerships with banks and NBFCs to reach newer customer segments without compromising on compliance.
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Credits: Indian Startup News
A Symbol of Fintech Maturity
Olyv’s story reflects a larger transformation within India’s fintech ecosystem. The era of unchecked growth is giving way to one of governance, trust, and accountability. As the company continues to expand responsibly, it demonstrates that financial inclusion and compliance aren’t opposing forces — they are complementary pillars of long-term success.
For millions of Indians who have long been excluded from formal financial systems, Olyv represents more than just a lending app — it’s a financial ally. And for investors, its latest fundraise stands as proof that ethical fintechs can thrive even in the toughest climates.
In short, Olyv isn’t just scaling a business. It’s reshaping how India borrows — with fairness, technology, and trust at its core.
