Credgenics acquires Arrise to build full-stack collections platform

Credgenics, a debt collections technology platform, announced the acquisition of Arrise — a collection service provider — for an undisclosed amount, as the company targets combined annual revenue of ₹850 crore over the next three years.

 

This is part of the company’s CG Setu initiative. The initiative will have a field fleet of digitally empowered personnel with standard operating procedures. It acts as a bridge between borrowers and lenders.

 

Credgenics is expected to become a full-stack collections solutions provider with a pan-Indian presence. Its capabilities would include on-field operations across more than 18,000 pin codes, digital collections, voice bots, litigation, and repayment management systems, among others.

 

Arrise was founded in 2019. It has a presence across more than 25 states through a network of over 5,000 professionals. It provides calling services in more than 13 languages. The company will continue to operate under its current leadership team for at least five years.

 

“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 chief executive officer (CEO), Credgenics.

 

Credgenics provides services to lenders to accelerate debt recoveries.

 

In 2023-24 (FY24), the platform managed over 98 million loan accounts worth more than $250 billion and facilitated over 1.7 billion omnichannel communications, serving over 150 financial institutions worldwide.

 

“Joining hands with Credgenics unlocks new avenues for technology innovation and business value creation in the critical area of debt collections,” said Avadhut Thali, managing director and CEO, Arrise.