Olyv Secures USD 23 Mn Series B Funding Led by Fundamentum
The round also saw participation from SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s largest banking groups.
[L-R] Jayant Upadhyay, Amit Chandel, Rohit Garg, & Vinay Singh, Co-founders of Olyv
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Bengaluru-based fintech company Olyv, formerly known as SmartCoin, has raised USD 23 million (about INR 208 crore) in its Series B funding round led by The Fundamentum Partnership, founded by Nandan Nilekani.
The round also saw participation from SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s largest banking groups.
The fresh capital will support Olyv’s next phase of growth. The company plans to expand its product portfolio with new offerings across insurance, UPI services and business loans. It also intends to strengthen its technology stack, enhance customer engagement and invest in brand building as it scales its core lending operations.
Founded in 2016 by Rohit Garg, Amit Chandel, Vinay Singh and Jayant Upadhyay, Olyv began as an app-based digital lending platform. It partners with RBI-registered lenders to offer quick personal loans to self-employed and salaried individuals. Over time, the company has expanded its offerings to include products such as gold savings and credit health management tools.
The ISO-certified app claims to have recorded over 5 crore downloads and nearly 2 million monthly active users, covering more than 19,000 pin codes across India.
According to the company, it has disbursed over 70 lakh loans and facilitated cumulative transactions exceeding INR 10,000 crore. Olyv has reported profitability at the PAT level for 11 consecutive quarters and operates with a team of more than 500 professionals.
The company operates in a competitive digital lending market alongside players such as KreditBee, MoneyTap, EarlySalary, CASHe and Navi.
Olyv said it aims to further strengthen its presence among middle-income households, particularly in Tier-II and Tier-III cities, by widening access to credit and additional financial services.
The latest investment marks the 11th and final deployment from Fundamentum’s Fund II, launched in 2022, and represents its fourth fintech-focused investment.
Unitus Capital acted as the exclusive financial advisor to Olyv for the transaction.
Since inception, the company has raised around USD 25 million in equity and approximately USD 100 million in debt from global and Indian fintech-focused investors.
Bengaluru-based fintech company Olyv, formerly known as SmartCoin, has raised USD 23 million (about INR 208 crore) in its Series B funding round led by The Fundamentum Partnership, founded by Nandan Nilekani.
The round also saw participation from SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s largest banking groups.
The fresh capital will support Olyv’s next phase of growth. The company plans to expand its product portfolio with new offerings across insurance, UPI services and business loans. It also intends to strengthen its technology stack, enhance customer engagement and invest in brand building as it scales its core lending operations.
