Excited to announce
@riverline_ai $825k pre-seed round, led by
@southpkcommons with follow ons from
@DeVC_Global and
@gradcapital and top angels from Google, Meta, M2P Fintech, HyperVerge.
Banking in 2035 it will be driven by AI-agents - and Riverline is building that bank, 1 AI-agent at a time.
Until now, all the NBFCs/banks in India have followed a top-down approach of sourcing leads, then underwriting, then disbursing and then collecting.
But,
@riverline_ai is solving it in reverse - we’re going to first solve the underbelly of the system, by building operational excellence in collections, using that to mitigate risk, uplift each borrower, and then, build upwards.
This is a completely new “bottom-up approach” to building a bank that’s never been explored before and we’re very grateful to our investors for being supportive of this vision.
And building on that vision, Riverline has already grown over the past 7 months to managing 100cr INR in debt-recovery, across loan-service-providers like CRED, NIRA, propelld, Freo and scaling fast now.
Here's to all our team members, clients, angel-investors, friends & family who bet on us and helped us get to this stage. Thanks for kicking off this journey of being lean, to build a fast-growing banking future for India 🇮🇳.
So unlike overhyped PRs, for the next chapter of this journey
@_abhishek__13 ,
@jayanthk_ and I wanted to write a heartfelt note for inviting ambitious builders and dreamers to come build an institution, with us. (full letter in comments) 🏔️🫶