Olyv, one of India’s fastest-growing AI-led digital financial platforms formerly known as SmartCoin, announced the profitable closure of FY 2024 with a revenue of INR 250+ crore and 76% growth in business volumes. A deep understanding of underserved India’s financial aspirations and a focus on building a deep horizontal play have helped Olyv drive 26 lakh monthly active users across its platform, up by 80% vs last fiscal.
The recent rebranding launched a diversified platform strategy, adding new categories like micro-savings, credit health management, and insurance in Olyv’s product suite helping improve customer retention, stickiness, and LTV. Olyv is pioneering a new era of comprehensive financial services tailored to the needs of modern India. Olyv’s unwavering commitment to ensuring customer delight is evident in its outstanding NPS, reflected through its exceptional 4.6 Google Play Store rating, across 3 crore+ users to date.
Best-in-class underwriting and in-house collections platform bolstered by AI/ML models and risk-based loan pricing has helped Olyv capture a burgeoning segment of digitally native, non-carded, and underbanked Indians ($300 bn market potential), comprising a healthy mix of self-employed, blue/grey collar and salaried customers.
Olyv’s strategic alliances with diversified industry-leading consumer platforms combined with strong growth in organic customer base are contributing to cost-efficient scaling. A flourishing asset-light co-lending model in partnership with multiple reputed financial institutions is helping the start-up drive higher capital efficiencies.
Marquee investors continue to show their support towards Olyv’s vision and execution capabilities, having injected ~$25M in equity and ~$80M in debt to date.
"Our journey to profitability represents a culmination of years of hard work, innovation, and dedication to our vision of making affordable and democratized financial products," says Rohit Garg, Co-Founder & CEO of Olyv. "We have witnessed broad-based growth across disbursement and revenues on the back of a continuously improving product suite and MAU growth. For the upcoming years, we are bullish on fortifying our digital financial platform play to partner customers across their financial journeys, unlocking newer customer segments, and further strengthening our presence in tier-2+ cities. Our goal is to reach $1Bn in AUM over the next 3 years."
About Olyv
Olyv is a leading fintech company committed to driving financial inclusion and empowerment through technology and innovation. Formerly known as SmartCoin, Olyv is dedicated to revolutionizing the way people access financial services, with a focus on transparency, accessibility, and customer-centricity. With a comprehensive product portfolio and a relentless pursuit of excellence, Olyv is reshaping the future of finance in India.
For more information, please visit Olyv's Website
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