Rezolv, an Indian software company that utilizes AI to automate debt collection for lenders, has raised $12.5 million in a Series A funding round led by U.S. venture firm Norwest, with participation from Vertex Ventures Southeast Asia and India and existing investor 3one4 Capital.
In a statement on Monday, Vertex Ventures Southeast Asia and India said the round follows a $3.5 million seed investment led by 3one4 Capital in early 2025. Rezolv said it would utilize the raised capital to strengthen its AI tools across the lending process, including sales, risk, underwriting, and collections. It will also expand into markets outside India.
The company was founded in 2024 by Karan Mehta and Sonali Jindal, former co-founders of the Indian digital-lending firm Kissht. Rezolv sells software to banks and non-banking financial companies to manage debt collection, from early reminders through legal recovery.
The firm has signed more than 22 banks and finance companies, including AU Small Finance Bank, ICICI Bank, Poonawalla Fincorp and Bajaj Auto Credit. Its platform can handle 6.5 million minutes of borrower conversations monthly across more than 12 million loan accounts. Its tool Strategy Builder has improved collection and resolution rates by 35 percent.
Sonali Jindal, a co-founder of Rezolv, said the main challenge in enterprise AI was measuring its business impact. The company aims to quantify outcomes such as recovery rates, cost and productivity in debt collection. Co-founder Karan Mehta said the funding would support expansion into global markets. Niren Shah, managing director and head of Norwest India, said debt collection was among the areas of financial services most suited to AI, given its scale and largely manual processes.
Rezolv, based in Mumbai, develops AI software for the lending lifecycle. Norwest is a U.S. venture and growth-equity firm that manages more than $15.5 billion and has offices in California, Mumbai and Tel Aviv. Vertex Ventures Southeast Asia and India is a Singapore-based early-stage venture firm. 3one4 Capital is a venture firm based in Bangalore, India.