Olyv has raised $23 million in a Series B round led by The Fundamentum Partnership, with participation from SMBC Asia Rising Fund.

Olyv has raised $23 million in a Series B round led by The Fundamentum Partnership, with 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 round marks the 11th and final investment from Fundamentum’s Fund II. The company will use the funds to expand its product portfolio, invest in technology and strengthen its brand presence. It will also scale operations nationwide. The fresh capital will support new offerings in insurance, UPI and business loans. Olyv plans to deepen customer engagement and build long-term value. Rohit Garg, cofounder and CEO, said, “At Olyv, technology and data come together to create real impact. We are democratising access to credit for the next billion hard-working and underserved Indians.” The funding would help scale the business, strengthen liability partnerships and expand its product offerings, he added. Founded in 2016 by Rohit Garg, Amit Chandel, Vinay Singh and Jayant Upadhyay, Olyv operates a digital lending and financial management platform. It offers personal loans, gold savings and credit health services. The platform has nearly 2 million monthly active users and over 5 crore app downloads. It serves customers across more than 19,000 pin codes. Olyv has disbursed 70 lakh loans and facilitated over ₹10,000 crore in transactions. The company has reported profitability for 11 consecutive quarters. By FY29, Olyv aims to scale its user base to 100 million and cross $1 billion in assets under management. Mayank Kachhwaha of Fundamentum said, “India’s digital lending ecosystem is entering its next phase of maturity, supported by the foundational rails of India Stack. Olyv’s credit-first, tech-led model is aligned with this shift.” Keiji Matsunaga of SMBC referred to the challenge of assessing credit risk for young and middle-income consumers with limited credit histories. “Olyv addresses this through a digital platform that leverages alternative data and AI-driven models, enabling broader credit access while maintaining strong risk discipline,” he said. Unitus Capital acted as the exclusive financial advisor to Olyv for the transaction. Since its inception, Olyv has raised about $25 million in equity and $100 million in debt from global and Indian fintech investors, including Lightrock, Unicorn India Ventures and India SME, as well as family offices such as Gauri Khan’s Family Office and other entrepreneurs and sports personalities. (with inputs from BL intern Tejaswini S) Published on February 11, 2026

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