Kissht Cofounders’ AI Debt Resolution Platform Bags $3.5 Mn Led By 3one4 Capital

Digital lending startup Kissht’s cofounders Karan Mehta and Sonali Jindal have stepped down from their operational positions to launch an AI-powered debt resolution platform for banks and non-banking financial companies (NBFCs).

Launched in October last year, the platform Rezolv addresses the challenge of debt recovery through integration of advanced analytics, AI, and GenAI to optimise each aspect of the collection period. 

According to Mehta and Jindal’s LinkedIn profiles, they resigned as chief technology officer and chief operational officer from the company, respectively, as of September last year, after a nine-year stint.

Mehta confirmed with Inc42 that Rezolv went live with its first two NBFC clients in January, and has also secured a seed funding of $3.5 Mn led by 3one4 Capital.

The startup will deploy the newly raised capital to aid its product innovation, expansion, and deeper integration with financial institutions, where it would be able to help lenders transition to a seamless, intelligent, and AI-powered collections ecosystem.

“Traditional collections software struggles to scale with increasing loan volumes and diverse customer segments. Rezolv’s cloud-native, API-first architecture allows lenders to scale seamlessly across multiple geographies and loan products,” he also said.

Rezolv competes with AI-focussed digital-first collections platform Credgenics, which recently partnered with Aye Finance to offer debt collection and resolution services, in February this year. Credgenics last raised $50 Mn in a Series B round at a valuation of $340 Mn.

With higher market potential and minimal competition, the startup’s low-code strategy builder assists lending companies to design custom workflows, eliminating dependencies on IT teams.

Technology advancement has enabled simplification of operations in various businesses, including the area of lending capital. With the leverage of AI-driven credit assessments, streamlined digital platforms, and alternative lending models, the lending tech segment is likely to surpass $1.3 Tn this year.