Lending Firm Olyv Secures $23 Million From Fundamentum and SMBC Asia Rising Fund

Consumer lending platform Olyv has closed a fresh funding round aimed at strengthening its NBFC base and widening its financial services offerings. 

Funding Structure and Capital Allocation 

Olyv has raised $23 million from Fundamentum Partnership and SMBC Asia Rising Fund. Around $13 million has come from Fundamentum, backed by Nandan Nilekani, while about $8 million was invested by SMBC Asia Rising Fund. The transaction was first reported on December 3. 

Co-founder Rohit Garg said 50% of the proceeds will be used to capitalise the company’s NBFC, with the balance allocated toward product enhancement and business expansion. 

Expansion Into New Financial Segments 

Founded in 2017 and previously known as Smartcoin, Olyv currently distributes ₹4,000 crore in personal loans on an annualised basis.  

The company plans to introduce unsecured business loans for the self-employed, extend credit through UPI rails and enter insurance distribution.  

Speaking to The Economic Times, Garg said the firm intends to apply for an insurance broking licence as part of its move into broader financial services.The startup aims to build an AUM of $1 billion within 3 years. 

Financial Performance and Investor Base 

In FY25, Olyv reported revenue of ₹350 crore and a net profit of ₹26 crore. Existing investors include Lightrock and Accion. 

Fundamentum had previously led a funding round in Flexiloans, while SMBC Asia Rising Fund has backed fintech companies such as Vayana, M2P Fintech and DPD Zero. 

Read More: Pet Care Platform Supertails Secures $30 Million Funding Led by Venturi Partners! 

Conclusion 

With new capital in place, Olyv is positioning itself to diversify beyond personal lending and scale its NBFC-led model into UPI-based credit and insurance distribution. 

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