Funding · Financial Services

Olyv raises $23 million in Series C round

By Startup Enthusiast · 9 February 2026

What they do

Olyv is a digital lending platform offering personal loans, gold savings, and credit health management

It raised $23 million (about ₹208 crore) in a Series C round led by Fundamentum Partnership, with SMBC Asia Rising Fund participating

The company has been profitable for 11 consecutive quarters and plans to expand into insurance, UPI, and business loans

Olyv raised $23 million (approximately ₹208 crore) in a Series C funding round.
The round was led by Fundamentum Partnership, a venture capital firm backed by Nandan Nilekani.
SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corporation, participated in the round.
Fundamentum invested about $13 million (₹120 crore), and SMBC invested about $8 million (₹87.5 crore).
Existing investors Lightrock and Unicorn India Ventures also participated.
The company's post-money valuation is approximately ₹1,045 crore (about $117 million).
Olyv plans to use half the funds to capitalise its NBFC (non-banking financial company) and the rest for business growth and product expansion.

Fundamentum also led a major round in Flexiloans last year, showing its focus on fintech lending.
SMBC Asia Rising Fund backs other Indian fintechs like Vayana, M2P Fintech, and DPD Zero.
Olyv rebranded from SmartCoin in 2024, signalling a shift in brand identity.
The company has been profitable for 11 consecutive quarters, a rare achievement in the lending space.

Olyv is a digital lending and financial management platform.
It offers personal loans, gold savings, and credit health management services.
The platform connects borrowers with lenders for unsecured loans digitally.
Its target customers are middle-income households, micro-merchants, self-employed individuals, and blue- and grey-collar workers in tier-2 and tier-3 cities.
Loan sizes go up to ₹5 lakh.
Lending partners include Poonawala Fincorp, InCred, Northern Arc, and PayU.
The company has nearly 2 million monthly active users and serves over 19,000 pin codes across India.
It has disbursed 70 lakh loans cumulatively, with total transactions exceeding ₹10,000 crore.
Its annualised personal loan distribution is ₹4,000 crore.

Olyv plans to use half the funds to capitalise its NBFC (non-banking financial company).
It will expand its product suite into insurance, UPI, and business loans.
The company intends to apply for an insurance broking licence.
It targets an AUM of $1 billion within three years (by FY29).
It aims to reach a user base of 100 million by FY29.

Fundamentum Partnership (lead) — A venture capital firm backed by Nandan Nilekani.
SMBC Asia Rising Fund (participant) — The venture capital arm of Sumitomo Mitsui Banking Corporation.
Lightrock (existing) — An existing investor in Olyv.
Unicorn India Ventures (existing) — An existing investor in Olyv.

Product: bet on fintech startup
Customers: Middle-income households, especially in tier-2 and tier-3 cities, seeking affordable credit and financial products.
What sets it apart: Aims to be a full-stack financial partner for underbanked Indians entering formal credit.