Debt Collection Platform Credgenics Acquires Arrise

SUMMARY

Credgenics said that the acquisition will enable the company to leverage Arrise’s pan-India network and become a “full-stack collections solutions” provider

Arrise’s existing leadership team will continue to helm the company for a minimum period of five years

Founded in 2019, Credgenics offers SaaS solutions that helps banks, NBFCs, and fintechs manage loan collections

SaaS-centric debt collection platform Credgenics has acquired rival service provider Arrise. However, Credgenics didn’t disclose the acquisition cost.

In a statement, Credgenics said that the acquisition will enable it to leverage Arrise’s pan-India network, expand its reach to 18,000+ pincodes, and pave the way for the SaaS platform to become a “full-stack collections solutions” provider.

It also said that Arrise will continue to be helmed by the existing leadership team for a minimum period of five years.

The acquisition is part of Credgenics’ new initiative ‘CG Setu’, which will see the enterprise tech startup leverage the acquisition to deploy a fleet of “digitally-empowered personnel” to scale up debt collections and drive efficiency.

“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,” Credgenics cofounder and CEO Rishabh Goel said.

Credgenics said that the two companies are now targeting a combined annual revenue of INR 850 Cr in the next three years.

Founded in 2019 by Avadhut Thali and Kunal Sawhney, Arrise provides multilingual calling services, on-ground collection services, voice bots, repayment management systems, and strategic consulting on collections and legal workflows.

Meanwhile, Credgenics, founded in 2019, offers software that helps banks, NBFCs, and fintechs manage loan collections. The fintech-focussed SaaS startup has raised $75 Mn to date and counts the likes of Westbridge Capital, Accel, and Tanglin Ventures among its backers. It was last valued at $340 Mn in 2023 and has been operationally profitable since FY23.

The startup claims to have clocked an operating revenue of INR 220 Cr in FY25, with a profit before tax of INR 25 Cr. It reported a net profit of INR 9.8 Cr on an operating revenue of INR 134.5 Cr in FY24.

Credgenics claimed that its platform is used to track over 11 Mn loan accounts and is integrated with lenders such as ICICI Bank, HDFC Bank, Mahindra Finance, and IIFL Finance.