Olyv raises $23 million in Series B funding from Fundamentum, SMBC Asia Rising Fund
11 Feb 2026, 01:35 PMThe Bengaluru-based startup will use the fresh capital to expand into other areas of financial services such as insurance distribution, UPI payments, and business loans.
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Lending startup Olyv has raised $23 million in its Series B funding round from Nandan Nilekani's The Fundamentum Partnership and Japan's SMBC Asia Rising Fund, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC).
The Bengaluru-based startup will use the fresh capital to expand into other areas of financial services such as insurance distribution, UPI payments, and business loans.
Olyv was founded by Rohit Garg, Amit Chandel, Vinay Singh, and Jayant Upadhyay in 2016. The fintech firm focuses on credit disbursements in tier 2 cities and beyond, following a fully-digital lending practice with ticket sizes ranging from Rs 5,000.
The company has disbursed over 70 lakh loans and facilitated over Rs 10,000 crore in cumulative loan value.
"The digital lending ecosystem is entering its next phase of maturity, supported by the foundational rails of India Stack. Olyv's credit-first, tech-led model is aligned with this shift," said Mayank Kachhwaha, investor and fintech thesis lead at Fundamentum.
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