The Indian fintech landscape just got a major jolt of adrenaline. Olyv, the digital lending powerhouse formerly known as SmartCoin, has successfully closed a $23 million (₹208.5 Cr) Series B funding round.
This is not just another capital infusion; it’s a strategic play led by The Fundamentum Partnership, backed by tech visionary Nandan Nilekani, with a significant nod from Japan’s banking giant, Sumitomo Mitsui Banking Corporation (SMBC), through its Asia Rising Fund.
For a sector that has seen its fair share of “funding winters,” Olyv’s latest win proves that for companies solving real-world credit gaps, the sun is still shining bright.
From “Quick Loans” to a Full-Stack Financial Suite
Olyv’s evolution from SmartCoin in 2024 was more than just a name change; it was a declaration of intent. With this fresh $23M in the bank, the startup is moving fast to shed its “micro-lender” image and step into the shoes of a comprehensive financial partner.
The Roadmap for Growth Includes:
- New Product Verticals: Launching insurance products, UPI integration, and specialised business loans.
- Tech Stack Reinforcement: Upgrading AI-driven credit scoring to better serve the underbanked.
- Geographic Scaling: Penetrating deeper into Tier 2 and Tier 3 cities, where traditional banking often stalls.
- Brand Authority: Strengthening its presence as a household name in middle-income India.
“Our vision is to evolve as a trusted, full-stack financial partner for underbanked Indians entering formal credit,” says Rohit Garg, co-founder and CEO of Olyv.
The Numbers Behind the Hype: 7 Million Loans and Counting
Since its inception in 2016 by Rohit Garg, Amit Chandel, Vinay Singh, and Jayant Upadhya, Olyv has been quietly building a massive credit engine. The stats are hard to ignore:
- 70 Lakh+ Loans Disbursed: A testament to their massive reach.
- ₹10,000 Cr in Cumulative Transactions: Proving the velocity of their platform.
- The “North Star” Goal: Scaling to 100 million users and crossing $1 Billion in Assets Under Management (AUM) by FY29.
By partnering with heavyweights like Poonawala Fincorp, InCred, and Northern Arc, Olyv has mastered the art of bridging the gap between institutional capital and the self-employed individual who needs a ₹5 Lakh loan without the bureaucratic nightmare.
Why Investors are Betting Big on Indian Lending Tech
While other sectors have struggled, Fintech remains the “crown jewel” of Indian startups. In 2025 alone, the sector raked in $2.5 billion across 120 deals.
- The logic is simple: India’s fintech market is projected to reach a staggering $250 billion in revenue by 2030. Within that pie, Lending Tech is the undisputed king, expected to command 53% of the market.
As consumption-driven credit, like gold loans and personal credit, becomes the norm rather than the exception, Olyv is perfectly positioned to capture the wave of “New-to-Credit” users.
The Bottom Line for Business Leaders
Olyv’s successful round is a signal to the market: The “Bharat” opportunity is real. Investors are not just looking for apps; they are looking for infrastructure capable of handling the massive credit demand of a digitising nation. With $125M in total equity and debt raised to date, Olyv isn’t just participating in the fintech race; it’s setting the pace.
