Lend-tech firm Rezolv raises $12.5M funding led by Norwest

Rezolv, an AI-native lending technology platform founded by former Kissht founders Karan Mehta and Sonali Jindal, 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 backer 3one4 Capital. 

The Mumbai-based company plans to use the fresh capital to strengthen its artificial intelligence capabilities across sales, risk assessment, underwriting and debt collection while accelerating its push towards end-to-end automation in lending workflows. 

Rezolv builds software for banks and non-banking financial companies (NBFCs) to automate large parts of the lending cycle through AI-driven tools. Its platform covers functions ranging from customer engagement and loan servicing to collections, recoveries and field operations. The broader goal is to create what the company describes as an AI-native operating system for lenders. 

Founded in 2024, Rezolv has expanded rapidly. It has partnered with more than 22 banks and NBFCs, including ICICI Bank, AU Small Finance Bank, Poonawalla Fincorp, Bajaj Auto Credit, Muthoot Capital and Northern Arc. 

According to the company, its platform now supports 6.5 million minutes of borrower conversations every month and manages collections across more than 12 million loan accounts. It also claims that its strategy builder tool has improved bounce and resolution rates by 35%. 

Jindal said that AI adoption is no longer the biggest hurdle because most organisations have already begun experimenting with the technology. Instead, she believes that the industry’s next challenge is proving measurable returns. “The real challenge is metricisation - can you quantify the business impact AI is creating?” she noted, adding that the next phase of AI would be defined by “measurable business outcomes, not just adoption”.

The investors believe debt collection is particularly well suited to AI because it remains highly fragmented and labour-intensive. Niren Shah, Managing Director and Head of Norwest India, and Nikhil Kookada, Principal at Norwest, said AI is creating an opportunity to “fundamentally rethink financial services”, while describing debt collection as one of the most compelling use cases because of its scale and complexity.

The investment highlights a broader shift taking place across India’s fintech sector. Lenders are increasingly adopting AI to automate tasks such as credit assessment, fraud detection, customer support and collections. This trend has accelerated following the Reserve Bank of India’s continued emphasis on stronger compliance, responsible lending practices and better risk management. AI-powered collections platforms have gained particular attention because they can reduce manual intervention while improving borrower engagement.

Recent funding activity highlights the momentum in the sector. In the past two years, several Indian fintech and AI-focused companies, including credit platform SarvaGram, embedded finance company Decentro and AI infrastructure startup Neysa, have attracted fresh capital to expand their products and scale operations. At the same time, traditional lenders have intensified their investment in digital transformation as competition for borrowers increases.

Vertex Ventures Southeast Asia and India, an early-stage investor with a portfolio that includes Grab, FirstCry and Kissht, said financial institutions continue to grapple with large volumes of documentation and compliance-related processes. The firm’s managing partner, Ben Mathias, said Rezolv’s technology reduces manual work and delivers “faster, predictable collections”.