Credgenics, a company providing SaaS for debt collection, secured $50 million in a Series B fundraising round. Accel, Tanglin Ventures, Beams Fintech Fund, Westbridge Capital, and other strategic investors served as the round’s primary organizers.
ICICI Bank, HDFC Bank, Mahindra Finance, DMI Finance, Hero Fincorp, TVS Credit, IREP Credit Capital, and Indifi are just a few of its clients, as reported by Inc42.com.
“With these resources, we can extend our innovative debt recovery solutions to new markets, empowering individuals and businesses worldwide to regain control of their loan collections. This funding not only accelerates our growth but also enables us to make a meaningful impact on the economic landscape of countries, unlocking new opportunities for financial well-being,” Rishabh Goel, cofounder and CEO of Credgenics, said.
The new funding will help the startup expand internationally, innovate and improve its products, and target new BFSI market niches.
“We are in a prime growth phase where we plan to introduce more innovative solutions and expand our footprint in other countries as well as invest in product development. Strengthening our partnership with our existing investors is a strategic decision that will help us bring more agility, convenience and efficiency to the loan collections process,” Anand Agrawal, cofounder and CPTO of Credgenics said.
Credgenics is the world’s top provider of loan collections and debt resolution technology platforms to banks, non-banking financial businesses, fintech, and ARCs. It was founded in 2018 by Rishabh Goel, Anand Agrawal, and Mayank Khera.