DPDzero raises $7 Mn led by GMO Venture Partners

Fintech startup DPDzero has raised $7 million in a funding round led by Japan-based GMO Venture Partners. The round also saw participation from SMBC Asia and existing investor Blume Ventures. 

Other backers from earlier rounds, including Better Capital, Anmol Maini Ventures, and India Quotient, have invested a total of $4.7 million in the company to date.

Last month, Entrackr reached out to the DPDZero founder Ananth Shroff regarding the new round; however, he claimed that our information was incorrect at the time.

The Bengaluru-based firm plans to use the new funds to hire its own field collection agents, starting in Bengaluru and later expanding to Maharashtra and Uttar Pradesh. These agents will enable the company to offer end-to-end ethical collection services. 

Founded in 2022 by Ananth Shroff and Ranjith Ramchandra, DPDzero helps banks, NBFCs, MFIs, and fintechs with debt collections through a mix of AI technology and human agents. Its clients include RBL Bank, IndusInd Bank, L&T Finance, and Manappuram Finance.

The startup currently processes collections for unsecured borrowings and is expanding to personal loans and credit card lending. It has handled collections for over 1 crore borrowers so far and currently works with 18 lakh borrowers monthly.