Home / Business and Economy / Rezolv Secures $12.5M to Expand AI Lending Beyond Debt
Rezolv Secures $12.5M to Expand AI Lending Beyond Debt
18 Aug
Summary
- Rezolv raised $12.5 million in a funding round led by Norwest.
- The startup's valuation quadrupled since its seed funding last year.
- Funds will expand AI capabilities into broader credit services.
Rezolv, a Mumbai-based lending technology startup, has successfully raised $12.5 million in a funding round spearheaded by Norwest. The investment also saw participation from Vertex Ventures Southeast Asia and India, alongside existing investor 3one4 Capital.
This new capital injection signifies a substantial growth for the company, with its valuation reportedly quadrupling since its seed funding round last year, where it raised $3.5 million at a $12.8 million post-money valuation. As of March, Rezolv achieved an annualized revenue run rate of approximately Rs 30 crore by the end of its first full year of operations.
The company, founded in 2024 by Karan Mehta and Sonali Jindal, the cofounders of digital lender Kissht, intends to strategically deploy a significant portion of this funding. The primary goal is to expand its artificial intelligence capabilities beyond its current focus on debt collection into a wider spectrum of credit services.
