DPDzero Funding Success of $7 Million for Fintech Solutions
Fintech company DPDzero has successfully secured $7 million in a funding round spearheaded by GMO Venture Partners from Japan. This round saw participation from SMBC Asia alongside existing investor Blume Ventures. Additional support from prior investors such as Better Capital, Anmol Maini Ventures, and India Quotient has contributed $4.7 million thus far.
Recently, Startup Superb reached out to the founder of DPDzero, Ananth Shroff, regarding this funding, but he indicated that their information was inaccurate at that moment.
The Bengaluru-based business aims to allocate the new capital towards recruiting its own field collection agents, starting in Bengaluru and eventually branching out to Maharashtra and Uttar Pradesh. The inclusion of these agents will enable DPDzero to provide comprehensive and ethical collection services.
Established in 2022 by Ananth Shroff and Ranjith Ramchandra, DPDzero assists banks, NBFCs, MFIs, and fintech firms with debt recovery through a blend of AI technology combined with human expertise. The company’s clientele includes notable names like RBL Bank, IndusInd Bank, L&T Finance, and Manappuram Finance.
Currently, the startup processes collections for unsecured lending and is set to venture into personal loans and credit card collections. To date, it has managed collections for over 1 crore borrowers and works with approximately 18 lakh borrowers monthly.
