CredResolve, a Gurugram-based AI-powered collections platform has raised $1.1 million in a seed funding round led by Japanese venture capital firm UNLEASH Capital Partners, with additional participation from CDM Capital.
This funding is set to accelerate CredResolve’s mission of transforming debt recovery in India through artificial intelligence and regulatory-driven automation.
The funds raised will be used to expand its partnerships with over 25 financial institutions, including banks, fintech firms, Non-Banking Financial Companies (NBFCs), and Asset Reconstruction Companies (ARCs).
The investment will also be directed toward enhancing its AI-driven debt resolution technology, allowing the company to streamline collections while ensuring strict regulatory compliance.
Additionally, CredResolve aims to strengthen its presence across multiple cities, addressing the growing demand for data-driven, borrower-centric recovery solutions.
Previously in February 2024, CredResolve raised an angel round of $100K from PedalStart, Tujala Goud, and other early investors.
“We are excited to have UNLEASH Capital and CDM Capital as our partners for this next phase of growth. This funding will enable us to expand our partnerships to over 25 financial institutions, enhance our AI-driven technology stack, and strengthen our presence across multiple cities,” said Balaji Koustubha, Co-founder of CredResolve.
Natsuki Sugai, Founder and Managing Partner at UNLEASH Capital Partners, said, “This investment aligns with our commitment to backing visionary entrepreneurs who are redefining financial services in India. CredResolve stood out due to its AI-driven approach, rapid traction with lenders, and a leadership team that brings a strong blend of technological innovation and financial industry expertise.”
Davesh Manocha, Founder and Managing Partner at CDM Capital said, “The growing adoption of AI in debt collection is revolutionizing traditional practices, making them more efficient and less intrusive and Credresolve stands at the forefront of this transformation.”
Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve is an AI-driven collections platform aimed at transforming the debt resolution process in India.
Currently, the startup serves over 20 lenders and generates an annual recurring revenue (ARR) of approximately $1 million, with ambitious plans to triple its revenue within a year.
