Collections platform CredResolve has raised $1.1 million in a seed funding round led by UNLEASH Capital Partners, with participation from CDM Capital.

UNLEASH Capital Partners is a Japanese venture capital firm focused on early-stage fintech and financial services in India.

The proceeds will be used to expand its partnerships to over 25 financial institutions, enhance its AI-driven technology stack, and strengthen its presence across multiple cities.

The Gurugram-based company had previously raised $33.6K in an angel round from PedalStart, Tujala Goud, and others in February 2024.

Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve is an AI-powered collections platform dedicated to optimizing the debt resolution process in India. The platform integrates technology with regulatory compliance to help financial institutions improve recovery rates, reduce operational inefficiencies, and enhance borrower experiences.

CredResolve claims to serve over 20 lenders across banks, fintech firms, non-banking financial companies (NBFCs), and asset reconstruction companies (ARCs). Currently, the startup generates an annual recurring revenue (ARR) of approximately $1 million and intends to triple its revenue in the next year.