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SaaS startup Credgenics raises $50M in Series B round led by WestBridge, Accel, others

The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund, and other strategic investors.

ISN Webteam
28 Aug 2023
Credgenics Logo

Credgenics Logo

SaaS-based debt collection and resolution platform Credgenics has raised $50 million in a Series B funding round at a valuation of $340 million.


The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund, and other strategic investors. 

Credgenics says the raised capital will be used for product innovation and enrichment, international business expansion, and capturing other BFSI industry segments.

Founded in 2019 by Anand Agarwal, Risabh Goel and Mayank Khera, Credgenics provides loan collections and debt resolution technology service to Banks, Non-banking finance companies, fintech firms, and ARCs worldwide.


The startup claims to have witnessed a 7x growth rate, since its last fundraising in 2021 and is working with 100+ leading private banks, non-banking financial companies, Fintechs and Asset Reconstruction Companies including IIFL Finance, Mahindra Finance, ICICI Bank, HDFC Bank, DMI Finance, Hero Fincorp, TVS Credit, IREP Credit Capital and Indifi. 

The SaaS-driven platform offers a comprehensive suite of debt resolution solutions, including digital collections, collections analytics, litigation management, field collections mobile app, agent performance management, and payments platform that use AI driven intelligent automation and Machine Learning models to deliver highly efficient collections.

Credgenics said that it works with more than 100 customers and touched an overall loan book worth $60 Billion in FY23. The startup handles 11 million retail loan accounts and sends 60 million digital communications every month, it claims. 

Speaking on the announcement, Rishabh Goel, Co-Founder & CEO, Credgenics, said, “We express our gratitude to our current investors for their unwavering support and trust in our vision. Their support propels us towards our mission of global expansion and fostering India’s financial growth. 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."

Anand Agrawal, Co-Founder & CPTO, Credgenics said, “At Credgenics, we are committed to harnessing the power of digital and emerging technologies for transforming the way debts are managed while ensuring a seamless experience for lenders and borrowers. 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.”

Credgenics said that it has recently turned operationally profitable and reached a revenue of Rs 100 crore in the FY 2022-23.

It has five offices in India and two others in Jakarta and Singapore, with another one set to open in Vietnam.

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