Debt resolution platform Credgenics acquires Arrise

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.