Fintech platform DPDzero bags Rs 3.9 crore in a funding led by Better Capital
- ByStartupStory | June 16, 2022
DPDzero, a fintech company, has secured Rs 3.9 crore in a new round of investment headed by Better Capital. Kunal Shah (founder of Cred), Nishchay AG (co-founder and CEO of Jar), Ramanathan RV (co-founder of Hyperface), Vijay Rajagopalan (head of sales and business development), Abhishek Kothari (co-founder of FlexiLoans.com), Amazon Pay (Offline), and Untitled Ventures all participated in the funding round.
The funding will be used to make the technology available to all types of lenders, allowing them to focus on obtaining new customers rather than wasting technical resources on non-scalable internal tools to keep operations operating.
Bengaluru-based Ananth Shroff and Ranjith B R created DPDzero in March 2022 to solve this challenge by expanding formal credit penetration and cooperating with lenders to lower operational expenses. Both co-founders were members of the Setu fintech API infrastructure platform’s founding team. They founded this business to solve the reality that only about 100 million Indians have official credit, leaving the remainder to rely on moneylenders.
Ananth Shroff, co-founder and CEO of DPDzero stated that the firm is thrilled to share the news of its first round of funding, which will assist financial institutions throughout India in streamlining their lending processes. Lenders must increase their capital base and enhance their operational procedures to address the deficit in loan demand in India.
Vaibhav Domkundwar, founder and CEO of Better Capital said that DPDZero brings together the company’s long-held beliefs in two major areas: finance and automation. He also mentioned that they were struck by Ananth and Ranjith’s clarity of thinking in visualising what loan automation should be like.
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