Credgenics Acquires Arrise to Strengthen Debt Collections Network Together, Credgenics and Arrise aim to grow their combined annual revenue to INR 850 crore over the next three years.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Credgenics, a SaaS platform for debt collections and resolution, has acquired Arrise, a business process outsourcing firm focused on the BFSI sector. Financial details of the transaction have not been disclosed.
Founded in 2019, Arrise currently operates across more than 25 states in India with a team of over 5,000 professionals. The firm also offers multilingual calling services in 13+ vernacular languages.
As part of the deal, Arrise will continue to be managed by its current leadership team for at least five years.
Credgenics expects the acquisition to help it evolve into a full-stack collections solutions provider. Its expanded offerings now include end-to-end capabilities such as on-field operations across 18,000+ pin codes, digital collections, multiple dialers, voice bots, litigation support, repayment management systems, and more. Together, the two companies aim to achieve a revenue target of INR 850 crore within three years.
Following the acquisition, Credgenics has also launched CG Setu, described as "a unique field fleet of smarter, agile, and digitally empowered personnel with standardized operating procedures that serve as an on-ground bridge between lenders and borrowers."
"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 and CEO of Credgenics, in a press release.
Arrise Executive Director Kunal Sawhney added, "This collaboration with Credgenics is a defining moment for Arrise. Together, we will continue to empower lenders with unmatched efficiency, innovative insights, and compliance standards."
Credgenics claims it managed over 98 million loan accounts worth more than USD 250 billion and facilitated over 1.7 billion omnichannel communications, serving 150+ financial institutions worldwide in FY24.
In 2023, Credgenics raised USD 50 million in a Series B funding round from Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund, and others. Two years earlier, it had raised USD 25 million in Series A funding. The Series B round valued the company at USD 340 million—marking a 3.4x jump in valuation since its previous fundraise.
