Rezolv raises $12.5 million in Series A led by Norwest

MUMBAI: Rezolv is putting more capital behind its AI ambitions. Rezolv has raised $12.5 million in a Series A funding round led by Norwest, with participation from Vertex Ventures Southeast Asia and India and existing investor 3one4 Capital.

Founded in 2024 by Karan Mehta and Sonali Jindal, both former founders of Kissht, Rezolv provides banks and non-banking financial companies (NBFCs) with an AI-powered lending technology platform.

The company combines a debt-collection platform with purpose-built AI tools, with its technology currently covering areas including sales, risk, underwriting and collections.

Rezolv said the new funding will be used to strengthen its core AI capabilities and build greater automation across lending workflows. The company also plans to use the capital to advance its ambition of becoming a global AI platform for financial services.

Since its launch, Rezolv has partnered with more than 22 banks and NBFCs. Its client base includes AU Small Finance Bank, ICICI Bank, Poonawalla Fincorp, Bajaj Auto Credit, Five-Star Business Finance, Muthoot Capital, Finova Capital, IndoStar, Protium, IIFL, Northern Arc, APAC Financial Services and Vridhi Home Finance, among others.

The platform currently powers 6.5 million minutes of borrower conversations each month and supports pan-India collections across more than 12 million loan accounts. Its Strategy Builder product has delivered a 35 per cent improvement in bounce and resolution rates, according to the company.

Rezolv founder Sonali Jindal said the challenge for companies is shifting from adopting AI to measuring whether it delivers meaningful business results.

Jindal said Rezolv combines its lending platform with AI and intelligence to deliver measurable improvements in recovery rates, costs, productivity and workforce optimisation.

Rezolv founder Karan Mehta said the funding moves the company closer to becoming an integrated part of the lending lifecycle and gives it the confidence to take its products to international markets.

At Norwest, the investors said debt collection presents a significant opportunity for AI-led transformation because of the scale, complexity and manual nature of the existing ecosystem.

Norwest managing director and head of India Niren Shah and principal Nikhil Kookada said they believe Rezolv can build a new generation of AI-led infrastructure for financial services.

Vertex Ventures Southeast Asia and India managing partner Ben Mathias said Rezolv’s AI platform can reduce manual work across financial institutions while improving the speed and predictability of collections.

The investment also marks another bet on the Rezolv founders by Vertex, with Mathias noting that the firm had previously partnered with Mehta and Jindal.

Existing investor 3one4 Capital is also increasing its commitment. 3one4 Capital principal, investments Akshay Sharma said the round reflects a broader shift from services towards product-led models as AI reshapes debt collection.

With more than 22 lending institutions already using its platform, Rezolv is now looking to turn that early traction into a larger AI-led lending infrastructure play, taking its collections technology beyond India and deeper into the wider lending lifecycle.