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HomeInsightFunding Alert Fintech Platform DPDzero raises Rs 3.9 crore in funding

[Funding alert] Fintech Platform DPDzero raises Rs 3.9 crore in funding

[Funding alert] Fintech Platform DPDzero raises Rs 3.9 crore in funding

Fintech Company DPDzero has raised Rs 3.9 crore in fresh funding round led by Better capital.

The funding round also saw participation from Kunal Shah (founder, Cred) ; Nishchay AG (co-founder and CEO, Jar) ; Ramanathan RV (co-founder of Hyperface); Vijay Rajagopalan (head of sales and business development); Abhishek Kothari (co-founder of FlexiLoans.com); Amazon Pay (Offline), and Untitled Ventures.

Also read – [Funding alert] B2B manufacturing firm Groyyo raises $40 mn funding led by Tiger Global

The startup plans to use the funds to make the technology accessible to all groups of lenders, allowing them to focus on acquiring new borrowers and not spend expensive engineering bandwidth building non-scalable internal tools to keep operations running.

Bengaluru-based DPDzero was founded in March 2022 by Ananth Shroff and Ranjith B R, It intends to address this problem by increasing formal credit penetration and collaborating with lenders to reduce operating costs.

Both the co-founders were part of the founding team of the fintech API infrastructure platform Setu.

They started this company to address the fact that only 100 million people in India have formal credit, leaving the rest to depend on moneylenders.

“We’re excited to announce our first round of financing to help financial institutions all over India streamline their lending operations. To meet the shortfall in credit demand in India, lenders need to scale up their capital base and improve their operational processes”, said, Ananth Shroff, co-founder and CEO, DPDzero.

“DPDZero combines our long term conviction in two big areas – fintech and automation. We were impressed with the clarity of thought displayed by Ananth and Ranjith in imagining what automation for lending should be like,” said, Vaibhav Domkundwar, founder and CEO of Better Capital.

About DPDzero

At DPDzero, they offer their collections automation module which enables lenders to analyze borrowers’ repayment behavior, segment borrowers based on risk profile, and engages with them across multiple channels to drive collections with intelligence.

Also read – [Funding alert] Cleantech firm NewTrace raises $1 mn in Seed funding

DPDzero is on a mission to offer a world class borrower data platform to ambitious lenders to run low cost credit business at scale. They want to accelerate economic growth and increase credit penetration by offering the best borrowing experience for people in need of credit.

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