Olyv: AI-Powered Financial Inclusion for India's Underbanked
- Riddhi Agnihotri
- Jul 23
- 2 min read
From SmartCoin to Olyv—building financial empowerment for millions
Introduction to Olyv
In 2016, India's digital lending served the urban elite, but Olyv's founders saw a different opportunity: millions of underbanked Indians—self-employed workers, blue-collar employees, small business owners—systematically excluded from traditional financial services. These weren't people who didn't need credit; they couldn't access it through conventional channels.
The founders at what was then called SmartCoin recognized the gap: these weren't people who didn't need credit—they just couldn't access it through conventional channels. Traditional banks demanded extensive documentation, credit histories, and collateral that working-class Indians simply didn't have.

Beyond Lending: Building a Financial Ecosystem
What started as SmartCoin evolved into Olyv, a comprehensive financial ecosystem designed specifically for India's underbanked:
Instant Personal Loans: ₹1,000 to ₹1,00,000 with AI-powered underwriting
Micro-Savings: Accounts starting at just ₹10
Insurance Products: Tailored to working-class needs
Credit Health Tools: Helping users improve financial standing
Gold Rewards Program: Earn gold through timely repayments and savings
Their AI system analyzes alternative data sources for real-time lending decisions, serving customers who'd never qualify for traditional bank loans.
The Profitable Growth That Matters
By FY24, Olyv achieved something remarkable in the digital lending space: profitable growth at scale.
The Numbers:
₹250+ crores revenue with 76% year-over-year growth
Maiden profits (while many competitors still burn cash)
2.6 million monthly active users (80% growth year-over-year)
$25 million in equity funding plus $80 million in debt financing
The Goal: $1 billion in assets under management within three years.
Why This Story Matters
Olyv has proven that AI-driven financial inclusion can be both profitable and impactful. Instead of trapping customers in debt cycles, they're helping users build wealth and improve their financial standing over time.
Their emphasis on financial health rather than just lending represents a more sustainable approach to financial services—one that serves hundreds of millions of underbanked Indians who deserve access to tools that help them build better financial futures.
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