DPDzero raises $3.25M from Blume and IndiaQuotient

Ranjith BR (left) and Ananth Shroff, the cofounders of DPDzero

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, we have raised $3.25 million in Seed Funding led by Blume Ventures and IndiaQuotient.

The round also saw participation from banking and fintech leaders such as Sunil Gulati and Nikhil Kumar.

Our Founders, Ananth Shroff and Ranjith BR, who were from the founding team of fintech API infrastructure platform Setu, set up DPDzero in March 2022.

We raised Rs 3.9 crore in Pre Seed round led by Better Capital last year.

We plan to use the funds primarily to “enhance product distribution, expedite product development, and assemble a high-calibre team”.

“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, we have witnessed 700% growth in revenue from its AI-powered collections and debt recovery platform. Our company has partnered with ambitious NBFCs like Tata Capital, KreditBee, Cashe, Lazypay, Snapmint. We have also 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 we envision to see significant scale in increasing quality revenues from land and expansion strategy. We are investing aggressively in information security and are all geared up to work with large Banks, NBFCs and ARCs.