Mumbai-based SaaS instrument Drona Pay has raised $500K in a seed round from Varanium Capital, Credit Saison and from fintech veterans including Kunal Shah, Jitendra Gupta, Amrish Rau and a few others.
The seed round will expand the technical and item team as the stage is witnessing footing from fin-techs and banks of India alongside boosting up its go-to-market strategies.
Founded in 2021 by Satish Kashyap, Pallavi Narvekar and Sukhdev Sinh Zala, Drona Pay delivers real-time protection using ml and proprietary informational indexes, to defend institutions against ever-increasing fakes in payments and lending. The stage protects BNPL, UPI, credit card and debit card exchanges from cheats, tricks, conspiracy and delinquency.
The organization promises to reduce delinquency in BNPL exchanges in 30 milliseconds alongside a reduction of bust off and merchant misrepresentation.
With the development of advanced transactions(4.2 billion UPI exchanges in October 2021), there is an increased focal point of fraudsters in this space and this is where devices like Drona Pay can assume a huge part.
