Exclusive: Nandan Nilekani’s Fundamentum Leads Olyv’s $23 Mn Series C Round

Why It Matters

The capital injection validates Olyv’s growth model and fuels expansion in India’s fast‑growing digital credit market, while signaling investor confidence in fintech platforms targeting underserved borrowers.

Key Takeaways

• Olyv raises Rs 207 crore ($23M) Series C
• Fundamentum leads round with Rs 120 crore investment
• SMBC Asia contributes Rs 87.5 crore
• Post‑money valuation approx Rs 1,045 crore ($117M)
• FY25 revenue up 36%, profit doubles to Rs 26 crore

Pulse Analysis

India’s digital credit sector is entering a maturation phase, with lenders increasingly turning to platform models that aggregate borrowers and institutional capital. Olyv’s latest Series C, anchored by Fundamentum Partnership Fund—a vehicle backed by Nandan Nilekani—underscores the appetite for scalable fintech solutions that serve micro‑merchants and blue‑collar workers. The infusion of Rs 207 crore not only boosts Olyv’s balance sheet but also positions it to deepen its technology stack, enhance risk analytics, and broaden its geographic footprint amid rising competition from both home‑grown startups and global entrants.

The funding round arrives at a pivotal moment for Olyv, whose FY25 financials reveal a 36% year‑on‑year revenue surge to Rs 338 crore and a profit jump to Rs 26 crore. Such performance demonstrates the viability of unsecured, small‑ticket loans when paired with data‑driven underwriting. With a post‑money valuation of roughly Rs 1,045 crore, Olyv joins a select cohort of Indian fintechs crossing the $100 million threshold, a milestone that often precedes broader market expansion, strategic partnerships, and potential secondary exits for early investors.

Looking ahead, Olyv’s capital will likely be allocated toward product diversification, regulatory compliance, and customer acquisition. The Indian government’s push for financial inclusion and recent RBI guidelines encouraging digital lending create a conducive environment for platforms like Olyv to capture market share from traditional banks. As the ecosystem evolves, the company’s ability to maintain low default rates while scaling will be critical, making its upcoming moves a bellwether for the health of the personal‑loan marketplace in the region.

Exclusive: Nandan Nilekani’s Fundamentum leads Olyv’s $23 Mn Series C round

Kunal (image credit) · 9 February 2026

Personal lending platform Olyv, formerly known as SmartCoin, has raised Rs 207 crore (around $23 million) in its Series C funding round led by Fundamentum Partnership Fund, with participation from SMBC Asia.

The board of Olyv has passed a resolution to allot 10 equity shares and 88,265 Series C compulsorily convertible preference shares at an issue price of Rs 23,506 each to raise the total amount, regulatory filings accessed by Entrackr from the Registrar of Companies (RoC) show.

• Fundamentum Partnership led the round with an investment of Rs 120 crore (approximately $13.3 million).

• SMBC Asia Rising Fund participated with Rs 87.5 crore.

According to the filings, the company plans to utilise the proceeds for general corporate purposes.

As per Entrackr’s estimates, Olyv is valued at around Rs 1,045 crore (nearly $117 million) post‑money.

Following the fresh capital infusion:

• Lightrock remains the largest external shareholder with a 22.43 % stake.

• The new investor, Fundamentum Partnership Fund, holds an 11.48 % stake.

• SMBC Asia Rising Fund and 01VC Poseidon Fund own 8.37 % and 4.95 %, respectively.

• The company’s co‑founders—Rohit Garg, Jayant Upadhyay, Vinay Kumar Singh, and Amit Chandel—collectively hold a 28.48 % stake.

Founded in 2015, Olyv operates as an online lending marketplace through its website and mobile application. The platform connects borrowers and lenders, offering unsecured loans digitally. The startup’s product portfolio primarily includes small‑ticket personal loans catering to micro‑merchants, self‑employed individuals, small retailers, blue‑ and grey‑collar workers, as well as salaried professionals.

Financial performance (FY25):

• Revenue from operations grew 36 % year‑on‑year to Rs 338 crore, up from Rs 249 crore in FY24.

• Profits more than doubled to Rs 26 crore during the same period.