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Credgenics, a SaaS-based debt collections and resolution platform, has launched CG Setu, an initiative to strengthen field debt collections through the acquisition of Arrise, a collections service provider focused on the BFSI sector. According to Credgenics, CG Setu will be a unique field fleet of smarter, agile, and digitally empowered personnel with standard operating procedures that act as an on-ground bridge between lenders and borrowers. This move will harness its collections technology leadership and Arrise’s expansive pan-India network.
Arrise, founded in 2019, has a presence across over 25 Indian states through a network of over 5,000 professionals and provides calling services in more than 13 vernacular languages. It will continue to operate under its existing leadership team for a minimum period of 5 years.
With this acquisition, Credgenics becomes a comprehensive full-stack collections solutions provider with a pan-India presence offering end-to-end capabilities, including on-field operations across over 18,000 pin codes, digital collections, multiple dialers, voice bots, litigation and repayment management systems, and strategic consulting on collections and legal workflows.
“This strategic partnership marks a huge step forward in Credgenics’ mission to transform debt collections with technology. CG Setu will disrupt the field collections model with its efficient, data-driven, and compliant approach. It will deliver greater efficiency and complete transparency for lenders, while providing a superior experience for borrowers,” said Rishabh Goel, co-founder & CEO, Credgenics.
Credgenics claims to have handled over 98 million loan accounts worth more than $250 billion in FY24 and facilitated 1.7 billion omnichannel communications for over 150 financial institutions globally. The company has raised approximately $80 million to date, including a $50 million Series B round led by WestBridge Capital in August 2023.Credgenics has posted a 40% jump in its annual revenue to Rs 220 crore in FY25 and also reported a profit before tax of Rs 25 crore for the same period.
About Credgenics
Credgenics has been co-founded by Rishabh Goel, Anand Agrawal, and Mayank Khera. Rishabh Goel also serves as the company’s CEO. Credgenics is a SaaS platform that utilizes AI and ML to streamline debt recovery and resolution for lenders. Credgenics is an NPA resolution platform backed by investors including Accel Partners and Titan Capital. The company works with financial institutions, Banks, NBFCs, and Digital lending firms to improve collections efficiency using technology, automation intelligence, and optimal legal routes in order to facilitate the resolution of stressed assets.
About Arrise
Avadhut Thali is the MD, CEO, and Co-Founder of Arrise. He previously worked at spocto as an Executive Director. Avadhut Thali attended the University of Mumbai. It is an BPO providing outsourcing partnerships with a focus on the BFSI industry. It specializes in providing results-driven outsourcing partnerships with a focus on the BFSI industry. It empowers users to operate a world-class business through our exceptional services. It provides services including debt management services, and HR staffing services.