Fintech Startup Olyv Secures USD 23 Mn in Series C Round The round was led by Fundamentum Partnership Fund, with participation from SMBC Asia Rising Fund.
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Personal lending platform Olyv, earlier known as SmartCoin, has raised INR 207 crore (about USD 23 million) in its Series C funding round, according to regulatory filings accessed from the Registrar of Companies.
The round was led by Fundamentum Partnership Fund, with participation from SMBC Asia Rising Fund.
As per the filings, Olyv's board approved the allotment of 10 equity shares and 88,265 Series C compulsorily convertible preference shares at an issue price of INR 23,506 per share to raise the total amount.
Fundamentum Partnership Fund invested INR 120 crore, while SMBC Asia Rising Fund contributed INR 87.5 crore. The company has stated that the fresh capital will be used for general corporate purposes.
Following the fundraise, Lightrock continues to be the largest external shareholder, holding a 22.43% stake in the company. Fundamentum Partnership Fund now owns 11.48%, while SMBC Asia Rising Fund and 01VC Poseidon Fund hold 8.37% and 4.95%, respectively. Olyv's co-founders — Rohit Garg, Jayant Upadhyay, Vinay Kumar Singh, and Amit Chandel — together hold 28.48% of the company.
Founded in 2015, Olyv is a Bengaluru-based fintech startup operating as an online lending marketplace through its website and mobile app. The platform focuses on unsecured, small-ticket personal loans and also offers services related to credit health monitoring, savings, and insurance. Its primary customer base includes micro-merchants, self-employed individuals, small retailers, blue- and grey-collar workers, and salaried professionals.
Olyv operates in a competitive digital lending space alongside players such as KreditBee, MoneyTap, EarlySalary, CASHe, and Navi.
