Lightrock-backed personal lending Olyv taps Unitus Capital for fresh $20 million fundraise
Lightrock-backed personal loan platform Olyv, formerly known as SmartCoin, has appointed Unitus Capital to raise new funding, three people aware of the development said.
The new funding round is expected to be $15-20 million (approximately ₹160 crore), the people cited above said on condition of anonymity. “Tour is expected to be a priority for growth,” one of them said.
Olyv and Unitus Capital did not respond to questions.
Bengaluru-based Olyv, which expanded its co-lending platform last year, has tie-ups with RBI-registered non-bank lenders such as Vivriti Capital, Poonawalla Fincorp and Aditya Birla Capital Finance.
Olyv’s new fundraising plan comes after the RBI recognized personal and unsecured joint loan regulations and tightened joint lending rules in August.
market trend
Many startups in the unsecured lending space are preparing to raise new capital through private financing rounds or by tapping the public markets. Companies such as Kreditbee, Moneyview, Fibe and Kissht are reportedly planning to go public in the near future and are working on private pre-IPO financing rounds.
Founded in 2017, the company offers small-ticket personal loans to micro-merchants as well as self-employed and salaried individuals. SmartCoin received its NBFC license from UpMove Capital Pvt. in October 2019. received through. Ltd. will provide personal loans to salaried and self-employed individuals. The company rebranded as Olyv in 2024 and partnered with Yubi to expand its lending reach.
Olyv reported ₹250 crore revenue was generated in FY24 and 76% growth in business was recorded. Monthly active user base increased by 80% year-on-year to 2.6 million. Investors led by Lightrock have injected approximately $25 million in equity and $80 million in debt into the company so far. It claims to have six million users and cumulative payouts exceed: ₹600 crore.
Olyv is waiting ₹Founder Rohit Garg said in a media report earlier this year that it had generated revenues of Rs 350 crore in FY25 and aims to reach $1 billion in assets in the next three years.
