Fintech startup DPDzero raises $7 million in funding led by GMO Venture Partners

DPDzero, a fintech startup has raised $7 million in a funding round led by GMO Venture Partners, a Japan-based, fintech-focused venture capital firm.

The round also saw participation from existing investor Blume Ventures, which doubled its investment in this Series A round, along with new investor SMBC Asia Rising Fund.

The Bengaluru-based company will use the new funds to hire its own team of field collection agents.

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“What we are also going to do with the new capital-raise is our own field collection agents so that we can bring in this new attitude of ethical collections behavior. We want to take care of end-to-end collections for all banks and all NBFCs in the country,” co-founder Ananth Shroff said.

“Over the past decade, we have been deeply committed to India’s fintech ecosystem. As the credit landscape matures, collections remain its most under-served frontier... We are proud to back the founders as they reimagine collections for India,” said Ryu Muramatsu, a founding partner of GMO Ventures Partners.

About DPDzero 

Founded in 2022 by Ranjith BR and Ananth Shroff, DPDzero uses AI and human agents to help fintechs, banks, NBFCs and MFIs with debt collection. It currently works with several banks and financial institutions like RBL Bank, IndusInd Bank, L&T Finance and Manappuram Finance.

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The fintech company will begin deploying field collection agents in Bengaluru. Over the next few years, DPDzero also plans to expand this to states like Maharashtra and Uttar Pradesh, which have high lending volumes.

DPDzero, which now focuses on collecting unsecured borrowings, plans to expand into personal loan and credit card collections. So far, it has managed collections for 1 crore borrowers and currently handles 18 lakh borrowers each month.