SaaS-based debt collections platform Credgenics acquires Arrise

Credgenics, a fintech-focused software-as-a-service (SaaS) platform for loan collections, has acquired a majority stake in debt collection firm Arrise in a cash-and-stock deal, as part of its strategy to expand into field collections.

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While the company did not disclose the acquisition cost, it confirmed that most of the cash component will be used by Arrise as primary growth capital.

The acquisition, under Credgenics’ new initiative CG Setu, will enable the company to integrate Arrise’s pan-India operations into its technology platform, deploying a fleet of digitally empowered personnel to improve on-ground debt collections.

Arrise has a presence across more than 25 states and a reach of over 18,000 pincodes. Its offerings include multilingual calling services, on-ground collections, voice bots, repayment management systems, and 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, cofounder and CEO of Credgenics.

"Joining hands with Credgenics unlocks new avenues for technology innovation and business value creation in the critical area of debt collections," said Avadhut Thali, MD & CEO of Arrise. “We are confident that this coming together of expertise and technology will help us set new benchmarks in scale, effectiveness, and compliance for collections in the financial services industry.”

Founded in 2019 and led by Avadhut Thali and Kunal Sawhney, Arrise will continue to operate under its existing leadership for at least five years.

Credgenics, also founded in 2019, counts ICICI Bank, HDFC Bank, Mahindra Finance and IIFL Finance among its clients. Its platform tracks millions of loan accounts for over 150 financial institutions. The company has raised about $79 million from investors including WestBridge, Accel, and Tanglin Venture Partners, and was last valued at $340 million in 2023.

The Noida-based startup reported operating revenue of Rs 220 crore and a profit before tax of Rs 25 crore in FY25, up from Rs 155.6 crore in revenue and Rs 8.39 crore in net profit the previous year. Credgenics said the combined entity is targeting annual revenues of Rs 850 crore within the next three years.