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| Founding Team — Ranjith Ramachandra & Ananth Shroff |
The company is building fintech infrastructure to make credit accessible and affordable
Credit penetration in India is a serious problem and needs a lot of attention. Without the right infrastructure, extending credit to the unserved and underserved would remain a dream. With this vision to build a robust infrastructure, fintech startup DPDzero has announced raising $3.25 million in Seed Funding led by Blume Ventures and IndiaQuotient. Prominent banking and fintech leaders like Sunil Gulati and Nikhil Kumar have also participated in the round.
This influx of capital is intended for strategic allocation, primarily to enhance product distribution, expedite product development, and assemble a high-calibre team to achieve the company's ambitious objectives.
The duo Ananth Shroff and Ranjith Ramachandra founded DPDzero in March ‘22 with an aim to fix the root cause of delayed repayments. The startup today solves for delinquencies across all stages and has developed unique behavioural models to predict and prevent defaults. This is going to bring transformation to the risk management practices in the lending industry.
"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 Co-Founder of DPDzero, shared his vision.
In a span of 10 months, the firm has witnessed 700% growth in revenue from its AI-powered collections and debt recovery platform. It has partnered with ambitious NBFCs like Tata Capital, KreditBee, Cashe, Lazypay, Snapmint and has witnessed strong interest from top private banks.
“At 55% of GDP, India's credit penetration is far below the global average of 148%. With economic growth, credit is set to rise, further driven by initiatives like AA & OCEN. This will onboard many New To Credit (NTC) customers but there is a risk of increasing NPAs, necessitating a focus on collection. Blume’s thesis on collection tech saw us investigating this space deeply. DPDzero stood out amongst all, and the collection product that Ananth and Ranjith have built, impressed us. DPDzero has an exciting roadmap for improving the credit landscape and we’re proud to support their journey.”-Sajith Pai, Partner at Blume Ventures shares his excitement with this partnership.``
Anand Lunia, Partner at IndiaQuotient, We are big believers in DPDzero'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.
"With the strong tailwinds from India stack scale-up, adding the next 200M people into formal credit could be sooner than expected. Risk and collections will go through a massive innovation, and DPDzero is in the best position to take all the advantage." Nikhil Kumar, co-founder of Setu, shares his views on DPDzero’s opportunity.
Revenue is the north star and over the next 12-18 months DPDzero envisions to see significant scale in increasing quality revenues from its land and expansion strategy. The company is investing aggressively in information security and is all geared up to work with large Banks, NBFCs and ARCs.
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