Credgenics Achieves Significant Growth in Annual Revenue

Debt resolution platform Credgenics has experienced a remarkable 40% increase in its annual revenue, reaching Rs 220 crore in FY25, according to the company’s press release. The firm also disclosed a profit before tax of Rs 25 crore during the same period.

About Credgenics and Its Offerings

Founded in 2018, Credgenics is known for providing SaaS-based digital collections and resolution tools tailored for banks, NBFCs, HFCs, fintech lenders, and asset reconstruction firms. In FY24, the platform managed over 98 million loan accounts totaling more than $250 billion and facilitated 1.7 billion omnichannel communications for more than 150 financial institutions worldwide.

Impact of AI and Analytics on Recovery Rates

Credgenics’s AI and analytics-driven platform has been instrumental in helping clients improve recovery rates while simultaneously cutting costs, particularly in the retail and SME/MSME loan segments.

Leadership Insights

Co-founder and CEO Rishabh Goel expressed pride in the company’s strong financial results, stating that they reflect the invaluable trust customers place in their offerings. He outlined plans for further expansion in India, Southeast Asia, and the Middle East, along with ongoing investments in generative AI.

Funding and Investor Backing

Credgenics has successfully raised about $80 million to date, with a notable $50 million raised during a Series B round led by WestBridge Capital. Previously, the company secured $25 million in its Series A funding round in 2021 and $3.5 million during a pre-Series A round in 2020. The company is supported by key investors, including WestBridge Capital, Accel, Tanglin Venture Partners, Titan Capital, and Beams Fintech Fund.

Future Plans and Strategies

Credgenics aims to enhance its investment in new products and expand into additional countries, aspiring to solidify its status as a leading collections platform amidst increasingly stringent regulations and the rise in loan defaults.