Fintech startup DPDzero has raised $3.25 Mn in a seed funding round led by Blume Ventures and India Quotient. Sunil Gulati and fintech startup Setu’s cofounder Nikhil Kumar have also participated in the round.
Founded in 2022 by Ananth Shroff and Ranjith Ramachandra, DPDzero aims to fix the root cause of delayed repayments via its AI-enabled collections and debt recovery platform. The startup solves for delinquencies across all stages and has developed unique behavioural models to predict and prevent defaults.
“Our journey is in its early stages, but our commitment to reshape the financial landscape is unwavering. We know lending is hard, but collection is harder. We want to solve the hardest problem first,” Ananth Shroff, CEO and cofounder of DPDzero, said.
In a span of 10 months, the startup claims to have seen 700% growth in revenue from its AI-powered collections and debt recovery platform. It has partnered with NBFCs like Tata Capital, KreditBee, Cashe, Lazypay and Snapmint, among others.
According to its website, it has served over 35 lakh borrowers and has enabled its partner firms to recover INR 150 Cr in collections.
The startup also counts CRED’s Kunal Shah, Abhishek Kothari of Flexiloans, and Better Capital amongst its investors.
This influx of capital is intended to enhance product distribution, expedite product development and hire more people to the team. The startup also said it is investing in information security to work with large banks, NBFCs and ARCs.
Anand Lunia, partner at IndiaQuotient further added that the investor was a big believer in the startup’s vision to build infrastructure that enables traditional and non-traditional lenders to manage risk and collections.
“Ananth, Ranjith and the DPDzero team have an exciting roadmap for the future of the credit landscape in India and we’re proud to support their journey,” he added.
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