Olyv, an AI-led digital financial platform formerly known as SmartCoin, announced the profitable closure of FY 2024 with a revenue of over Rs 250 crore and 76 per cent 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 per cent 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.
Marquee investors continue to show their support towards Olyv’s vision and execution capabilities, having injected around USD 25 million in equity and around 80 million in debt till date.
“Our journey to profitability represents a culmination of years of hard work, innovation, and dedication to our vision of making affordable and democratised financial products," says Rohit Garg, Co-Founder and 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.”
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