Indian Fintech Startup DPDzero Raises $3.25M in Seed Funding
Dzero cofounders Ranjith Ramachandra and Ananth Shroff
- DPDzero, a fintech startup, has secured $3.25 million in seed funding in a round led by Blume Ventures and IndiaQuotient.
- The funding round also saw participation from notable figures in the banking and fintech industry, including Sunil Gulati and Nikhil Kumar.
- DPDzero intends to use the funds primarily for product distribution enhancements, accelerated product development, and building a skilled team.
- Founded by Ananth Shroff and Ranjith BR, who were part of the founding team of the fintech API platform Setu, DPDzero aims to reshape the financial landscape, focusing on solving challenging issues related to lending and collections.
- The company has achieved significant revenue growth, experiencing a 700% increase in revenue from its AI-powered collections and debt recovery platform in just 10 months. It has also formed partnerships with NBFCs and attracted interest from top private banks, positioning itself to address challenges in the credit landscape.
