Bengaluru-based personal lending platform Olyv has raised Rs 57.62 crore in an extended Series C round. New investor Nippon India Digital led the round with Rs 50 crore, while existing backer Fundamentum contributed the remaining Rs 7.62 crore.
The details of the round
Regulatory filings show Olyv allotted 25,057 compulsorily convertible preference shares and 10 equity shares at Rs 22,985.82 per share to raise the fresh capital. The allotment gives Nippon India Digital a 4.53 percent stake in the company, while Fundamentum now holds 12.47 percent.
The filings state that the money will go toward general corporate requirements. Based on the share price in the filing, the extension values Olyv at about Rs 1,104 crore, the same valuation as its Series C earlier this year.
A profitable year behind the raise
Olyv closed its main Series C round in February 2026, raising Rs 207 crore in a round led by Fundamentum with participation from SMBC Asia. The extension arrives nine months later and adds a new institutional name to the cap table.
The company reported operating revenue of Rs 338 crore in the year ended March 2025, up 36 percent from Rs 249 crore a year earlier. Net profit more than doubled to Rs 26 crore in the same period. Olyv is yet to file its results for the year ended March 2026.
Loans for borrowers banks overlook
Olyv started life as SmartCoin and took its current name in 2023. It lends through RBI-registered partners and offers personal loans of up to Rs 5 lakh, alongside gold savings products and tools to track credit health.
The app has been downloaded around 50 million times and reaches customers across more than 19,000 pin codes. Founders Rohit Garg, Amit Chandel, Vinay Singh and Jayant Upadhyay built the platform for salaried and self-employed borrowers who often find banks out of reach.
What the flat valuation says
An extension at a flat valuation is a measured outcome rather than a breakout one. Olyv is growing revenue and making a profit, yet the unchanged valuation shows investors are pricing the next stage of growth carefully.
The filing lists general corporate requirements as the use of the money. The next set of annual results will show what this round delivers for the business.
