Increased consumption of soymilk driven with amplified health interest and ongoing scientific efforts have incited fascination in the imminent development of plant-based novel formulations. Over the time, conventional fermentation has been pertinent to exert preservation effects besides improving the flavor and texture of the soymilk for an adequate acceptability. With the advent of advanced biotechnological interventions as systematic paradigms, improved starters are being employed to develop functional soymilk. This review integrates contemporary technical information about the imperative developmental benefits imparted by the soymilk consumption via the evolution of lactic acid bacteria from traditional starters to bioactive compounds producing bio-factories. The novelty of this review is based on our holistic approach in collating the updated information on bioactivities of fermented soymilk in general while placing greater emphasis on the effects of advanced fermentation on soymilk functionality. The latest design to exploit custom-made strains in soymilk fermentation holds a promise which can be profitably implemented to meet consumer needs. Display omitted •Lately, consumption of soy beverages and associated multifaceted health benefits have greatly enlarged.•Until a few years ago, soymilk fermentation was pertinent only for preservation and flavor effects.•Biotechnological interventions employed improved starters to enhance B-vitamins in fermented soymilk.•We emphasize the evolution of LABs from conventional starters to B-vitamin biofactories for soymilk enrichment.•The incorporation of custom-made strains in soymilk holds a promise to profitably meet the consumer needs.