Fintech DPDzero raised $3.25 M Seed funding from IndiaQuotient, Blume Ventures
DPDzero, a fintech startup, has raised $3.25 million in a seed round led by IndiaQuotient and Blume Ventures. The round now includes Sunil Gulati and Nikhil Kumar as well.
The Bengaluru-based startup had earlier raised Rs 3.9 crore in its pre-seed round, which was led by Better Capital, in June 2022.
According to a press release from DPDzero, the additional funds will be used to improve product distribution, hasten product development, and assemble a top-notch team to meet the company’s lofty goals.
Ananth Shroff and Ranjith Ramachandra founded DPDzero, which addresses issues at all stages of lending and has created distinctive behavioral models to anticipate and prevent defaults.
The company claims that in just 10 months, the revenue generated by its AI-powered platform for debt collection and recovery increased by 700%. With NBFCs like Tata Capital, KreditBee, Cashe, Lazypay, and Snapmint, it has partnered.
The first close of Blume Ventures’ brand-new opportunity fund, Fund 1Y, was announced in June. Of the Rs 400 crore ($50 million) target, the growth fund has already raised Rs 200 crore ($25 million).
