Bengaluru-based fintech firm DPDzero recorded a surge in its top scale to Rs 3.96 crore in FY23 with almost the entirety of it coming in from operations.
Previously, the company generated about Rs 35,000 in revenue in its first year of revenue generation in FY22. The same year saw operations contributing over Rs 34,000.
Set up by Ananth Shroff and Ranjith B.r. in 2022, DPDzero provides an AI-based collection portfolio management platform for lenders. The platform enables lenders to automate collections, analyze performance, and manage collection portfolios.
It also offers third-party payment integration, AI-powered collection allocation, voice assistance, payment rewards, and APIs.
The fintech has raised over Rs 30 crore through 2 fundraises. It last secured Rs 27.1 crore in Its extended Seed round led by Blume Ventures and India Quotient last year. The likes of Sunil Gulati and Nikhil Kumar also participated in the round.
Prior to this, it scooped up an estimate of Rs 4 crore in its maiden round led by Better Capital in 2022. Others who invested in the round were Kunal Shah, Ramanathan RV, Nishchay AG, Vijay Rajagopal among others.
The two-year-old company’s largest expense was employee benefit costs of Rs 1.7 crore. Its legal expenses and travelling costs came up to over Rs 9 lakhs and close to Rs 6 lakhs, pushing the overall expenditure for FY23 to Rs 3.6 crore.
This was a stark rise as compared to FY22’s Rs 5.7 lakhs of expenses incurred.
After two years of losses, the firm saw profits amounting to Rs 28.6 lakhs in FY23. Its current EBITDA margin and ROCE stands at a positive 10.66% and 161.99% respectively. DPDzero generated losses of Rs 5.4 lakhs in FY22.