Collections platform CredResolve captures $1.1 million Seed Fund
With CDM Capital participating, UNLEASH Capital Partners led a $1.1 million seed investment round for collections platform CredResolve.
In February 2024, the Gurugram-based business raised $33.6K in an angel round from Tujala Goud, PedalStart, and other investors.
According to a news statement from CredResolve, the money will be utilized to improve its AI-driven technology stack, increase its presence in many cities, and broaden its collaborations to more than 25 financial institutions.
CredResolve is an AI-powered collections platform that was co-founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar with the goal of streamlining the debt resolution procedure in India. The platform helps financial institutions increase recovery rates, decrease operational inefficiencies, and improve borrower experiences by fusing technology and regulatory compliance.
CredResolve claims that by combining borrower interaction tactics with artificial intelligence, it seeks to revolutionize debt collection. The business uses artificial intelligence (AI) to streamline recovery procedures, enhance borrower communication, and guarantee rigorous adherence to Reserve Bank of India (RBI) rules. This tech-driven strategy solves a critical issue in India's financial sector by increasing recovery rates and decreasing operational inefficiencies.
CredResolve asserts that it works with more than 20 lenders, including banks, asset reconstruction companies (ARCs), fintech companies, and non-banking financial companies (NBFCs). The firm currently makes about $1 million in annual recurring revenue (ARR) and plans to increase that amount in the upcoming year.
It faces competition from other startups in this field, including CredGenics, DPDZero, Spocto, and Skit.AI.
A Japanese venture capital business called UNLEASH Capital Partners focuses on early-stage financial services and fintech in India, with a particular emphasis on promoting financial inclusion. It has supported businesses such as LetzRyd, CredRight, and Ayekart.
In February 2024, the Gurugram-based business raised $33.6K in an angel round from Tujala Goud, PedalStart, and other investors.
According to a news statement from CredResolve, the money will be utilized to improve its AI-driven technology stack, increase its presence in many cities, and broaden its collaborations to more than 25 financial institutions.
CredResolve is an AI-powered collections platform that was co-founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar with the goal of streamlining the debt resolution procedure in India. The platform helps financial institutions increase recovery rates, decrease operational inefficiencies, and improve borrower experiences by fusing technology and regulatory compliance.
CredResolve claims that by combining borrower interaction tactics with artificial intelligence, it seeks to revolutionize debt collection. The business uses artificial intelligence (AI) to streamline recovery procedures, enhance borrower communication, and guarantee rigorous adherence to Reserve Bank of India (RBI) rules. This tech-driven strategy solves a critical issue in India's financial sector by increasing recovery rates and decreasing operational inefficiencies.
CredResolve asserts that it works with more than 20 lenders, including banks, asset reconstruction companies (ARCs), fintech companies, and non-banking financial companies (NBFCs). The firm currently makes about $1 million in annual recurring revenue (ARR) and plans to increase that amount in the upcoming year.
It faces competition from other startups in this field, including CredGenics, DPDZero, Spocto, and Skit.AI.
A Japanese venture capital business called UNLEASH Capital Partners focuses on early-stage financial services and fintech in India, with a particular emphasis on promoting financial inclusion. It has supported businesses such as LetzRyd, CredRight, and Ayekart.
