Gurugram-based AI-powered collections platform CredResolve has raised $1.1 million in a seed funding round led by UNLEASH Capital Partners, with participation from CDM Capital.
The fresh capital will be utilized to expand its partnerships to over 25 financial institutions, enhance its AI-driven technology, and strengthen its market presence across multiple cities, the company announced in a press release.
This funding follows CredResolve’s earlier angel round in February 2024, where it raised $33.6K from PedalStart, Tujala Goud, and other investors.
Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve is an AI-powered platform designed to optimize the debt resolution process in India.
The company integrates technology with regulatory compliance to help financial institutions improve recovery rates, streamline operations, and enhance borrower engagement.
CredResolve leverages AI to streamline debt recovery, automate workflows, enhance borrower communication, and ensure RBI compliance, improving efficiency in India’s financial sector.
The company currently serves over 20 lenders, including banks, fintech firms, Non-Banking Financial Companies (NBFCs), and Asset Reconstruction Companies (ARCs).
In India’s debt recovery ecosystem, CredResolve competes with startups such as CredGenics, DPDZero, Spocto, and Skit.AI.
