Credgenics Reports 40% Revenue Growth in FY25

Debt resolution platform Credgenics has reported a remarkable 40% increase in its annual revenue, reaching Rs 220 crore in FY25, as highlighted in the company’s press release. Additionally, the firm indicated a profit before tax of Rs 25 crore for the same fiscal year.

Established in 2018, Credgenics provides SaaS-based digital collections and resolution tools tailored for banks, NBFCs, HFCs, fintech lenders, and asset reconstruction firms. The company asserts that it has managed more than 98 million loan accounts valued over $250 billion in FY24 and has facilitated 1.7 billion omnichannel communications for over 150 financial institutions worldwide.

Innovative Platform Driving Results

Credgenics’s platform, powered by AI and analytics, has enabled clients to enhance recovery rates while keeping costs low, particularly in retail and SME/MSME loan portfolios.

Plans for Expansion

The co-founder and CEO Rishabh Goel expressed pride in the strong financial outcomes, reflecting customer confidence in their solutions. The company aims to expand further into India, Southeast Asia, and the Middle East, while also investing in generative AI technologies.

Investment and Backing

To date, Credgenics has secured approximately $80 million in funding, which includes a $50 million Series B round led by WestBridge Capital. The company previously obtained $25 million during its Series A round in 2021 and $3.5 million in a pre-Series A round in 2020. Notable investors backing Credgenics include WestBridge Capital, Accel, Tanglin Venture Partners, Titan Capital, and Beams Fintech Fund.

Focus on Product Development

Credgenics intends to allocate more resources towards developing new products and expanding into additional markets, aiming to fortify its position as a leading collections platform, especially as regulations tighten and loan defaults increase.