New Delhi, Oct. 21 -- Lightrock-backed personal lending platform Olyv, formerly known as SmartCoin, has appointed Unitus Capital to raise fresh funds, three people aware of the development said.

The new funding round is expected to be $15-20 million (close to Rs.160 crore), the people cited above said on the condition of anonymity. "The round is expected to be all primary for growth," one of them said.

Olyv and Unitus Capital did not respond to queries.

Bengaluru-based Olyv, which expanded its co-lending platform last year, has tie-ups with RBI-registered non-bank lenders such as Vivriti Capital, Poonawalla Fincorp, and Aditya Birla Capital Finance.

Olyv's plan to raise fresh funds comes after the RBI in August recognized personal and...