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DPDzero, a fintech start-up has announced raising ₹3.9 crore in a pre-seed funding led by Better Capital. The start-up is building a fintech borrower data platform that automates end-to-end operations for all lenders
Angel investors including Kunal Shah (Founder - CRED), Ramanathan RV (Co-Founder, Hyperface), Nishchay AG (Co-Founder & CEO at Jar), Vijay Rajagopalan (Head of Sales & Business Development, Amazon Pay (Offline), Ahishek Kothari (Co-founder, FlexiLoans.com) and untitled ventures also participated in the round.
Ananth Shroff, Co-Founder & 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 non- banking financial companies (NBFCs) of all sizes automate and streamline the entire lending operations, so they can focus fully on acquiring the right borrowers.”
The fresh funds will be used to make innovative technology accessible across all cohorts of lenders, and limit their focus to acquiring new borrowers and not spend expensive engineering bandwidth building non-scalable internal tools to keep operations running, a release said.
Fintech and automation
“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 of Better Capital, an early backer of breakout companies like Open, Teachmint, Slice, etc.
The fintech start-up has witnessed interest from several fintech lenders and NBFCs and has partnered with companies such as OTO capital, BharatX, OkCredit, ZeroPay, RupeeLend, Saija MicroFinance, Kanakadurga Finance, Padmasai Finance, among others.
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