CredResolve has raised $1.1 million in a seed funding round led by UNLEASH Capital Partners, with participation from CDM Capital. The Gurugram-based AI-driven collections platform previously secured $100,000 in an angel round from PedalStart, Tujala Goud, and other investors in February 2024.
The company stated that the fresh funding will support its expansion to over 25 financial institutions, enhancement of its AI technology stack, and strengthening of its presence across multiple cities.
Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve integrates AI with regulatory compliance to optimize debt recovery. The platform automates recovery workflows, streamlines borrower communication, and ensures adherence to Reserve Bank of India (RBI) regulations. By leveraging AI-driven engagement strategies, CredResolve aims to improve recovery rates while reducing operational inefficiencies for financial institutions.
The company reported that it currently serves over 20 lenders, including banks, fintech firms, Non-Banking Financial Companies (NBFCs), and Asset Reconstruction Companies (ARCs). CredResolve generates an annual recurring revenue (ARR) of approximately $1 million and has set a target to triple its revenue within the next year.
The platform operates in a competitive market alongside companies such as CredGenics, DPDZero, Spocto, and Skit.AI. UNLEASH Capital Partners, a Japanese venture capital firm specializing in early-stage fintech investments, emphasized its commitment to supporting financial inclusion in India. The firm has previously invested in startups such as Ayekart, CredRight, and LetzRyd.
With its AI-powered approach, CredResolve is positioned to redefine debt collection by integrating advanced technology and borrower-centric engagement, driving efficiency and compliance in India’s financial sector.
Featured image: Credit: CredResolve
