Fintech DPDzero raises ₹3.9 crore seed funding led by Better Capital
- The funds will be used to make technology accessible across all cohorts of lenders, and help them limit their focus to acquiring new borrowers and not spend expensive engineering bandwidth building non-scalable internal tools to keep operations running.
Fintech startup DPDzero has announced raising ₹3.9 crore in a pre-seed funding led by Better capital.
Prominent angels such as Kunal Shah, founder, Cred; Ramanathan RV, co-founder, Hyperface; Nishchay AG, co-founder & CEO, Jar; Vijay Rajagopalan, head of sales and business development, Amazon Pay (Offline); Ahishek Kothari, co-founder, FlexiLoans.com; and Untitled ventures also participated in the round.
The company is building a fintech borrower data platform platform that automates end-to-end operations for all lenders.
The funds will be used to make technology accessible across all cohorts of lenders, and help them limit their focus to acquiring new borrowers and not spend expensive engineering bandwidth building non-scalable internal tools to keep operations running.
According to the company, it has witnessed strong interest from several fintech lenders and NBFCs and has partnered with companies such as OTO capital, BharatX, OkCredit, ZeroPay, RupeeLend, Saija MicroFinance, Kanakadurga Finance and Padmasai Finance, among others.
Commenting on the announcement, Ananth Shroff, co-founder and CEO, DPDzero, said, “To meet the shortfall in credit demand in India, lenders need to scale up their capital base and improve their operational processes. We’re helping fintech and NBFCs of all sizes automate and streamline the entire lending operations, so they can focus fully on acquiring the right borrowers.”
Ananth Shroff and Ranjith B R who were from the founding team of fintech API infrastructure platform - Setu, founded DPDzero in March this year with an aim to fix the root causes for delayed repayments in a lending organisation and help lenders build sustainable growth.
“DPDZero combines our long term conviction in two big areas - fintech and automation. Having seen the automation opportunity across several orgs from marketing and sales to finance and design via our investments, we are excited to be founding stage partners to DPDZero as the team builds the automation stack for fintechs in India and across global markets”, said Vaibhav Domkundwar of Better Capital, an early backer of breakout companies such as Open, Teachmint and Slice.
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First Published:15 Jun 2022, 05:05 PM IST
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