CredResolve, an AI-driven debt collections platform, has raised $1.1 million in a seed funding round led by UNLEASH Capital Partners, with additional participation from CDM Capital. This funding will accelerate the company’s expansion and enhance its AI-powered technology stack.
The Gurugram-based startup had earlier secured $100,000 in an angel round in February 2024 from PedalStart, Tujala Goud, and other investors. The latest capital infusion will support CredResolve’s goal of scaling partnerships with over 25 financial institutions and broadening its presence across multiple cities.
Transforming Debt Resolution with AI
Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve aims to revolutionize debt recovery by integrating artificial intelligence with borrower engagement strategies. The platform automates recovery workflows, enhances borrower communication, and ensures compliance with Reserve Bank of India (RBI) regulations. By leveraging AI-driven insights, the company helps financial institutions improve recovery rates while reducing operational inefficiencies.
Growth and Market Positioning
Currently, CredResolve serves over 20 lenders, including banks, fintech firms, Non-Banking Financial Companies (NBFCs), and Asset Reconstruction Companies (ARCs). The company has reported an annual recurring revenue (ARR) of approximately $1 million and has set ambitious plans to triple its revenue within the next year.
Operating in a competitive landscape, CredResolve faces competition from established players such as CredGenics, DPDZero, Spocto, and Skit.AI. However, its AI-driven approach and compliance-first methodology position it uniquely in the market.
Strategic Backing from UNLEASH Capital Partners
UNLEASH Capital Partners, a Japanese venture capital firm specializing in early-stage fintech and financial services in India, led the funding round. The firm has a strong track record of supporting companies focused on financial inclusion, with previous investments in Ayekart, CredRight, and LetzRyd.
With this fresh capital, CredResolve is poised to redefine the debt resolution landscape in India, enabling financial institutions to navigate collections more efficiently while ensuring a seamless experience for borrowers.
