DPDZERO Secures $7 Million to Transform Debt Collection in India
In a significant funding round, DPDZERO, a pioneering fintech startup based in Bengaluru, has successfully raised $7 million. The investment was led by OGM Venture Partners, focusing on innovative solutions in the Japan-based fintech space.
Investor Participation and Funding Utilization
This financing round saw notable participation from well-known investors including SMBC Asia and Blume Ventures, which significantly increased their investment compared to previous rounds. The funds will primarily be allocated towards the recruitment of field collection agents, a strategic move intended to enhance DPDZERO’s operational capabilities.
DPDZERO: Redefining Debt Collection
Founded in 2022 by Annanth Shroff and Ranjith Ramchandra, DPDZERO specializes in aiding financial institutions such as banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs) in ethical debt collection. Utilizing both artificial intelligence and human agents, DPDZERO is committed to transforming how debts are recovered while ensuring best practices in collection ethics.
Partnerships with Major Financial Institutions
The startup has formed strategic partnerships with several prominent banks and NBFCs, including RBL Bank, IndusInd Bank, L&T Finance, and Manappuram Finance. These collaborations underline DPDZERO’s role in modernizing debt recovery practices across India.
Future Plans and Expansion
DPDZERO’s growth strategy includes starting field collection operations in Bengaluru, with plans to expand into major states like Maharashtra and Uttar Pradesh. The firm aims to scale its operations beyond loan recovery into credit card debt collection, reflecting its commitment to comprehensive financial services.
Investment Journey and Additional Funding
To date, DPDZERO has successfully raised a total of $4.7 million from investors such as Better Capital, Anmol Maini Ventures, and India Quotient, according to data from Tracxn. This strong financial backing enables the startup to innovate and enhance its service offerings in the competitive fintech landscape.
Expert Insight and Industry Support
Ryu Muramatsu, a founding partner of GMO Venture Partners, emphasized the importance of DPDZERO’s mission. He stated, “As the landscape of credit matures, collections remain its most under-commissioned area. We are proud to support the founders in reinventing the collection process for partners in India.” This endorsement highlights the potential impact DPDZERO can have on the fintech ecosystem