17 hours ago
Credgenics takes majority stake in debt collection firm Arrise
Company Images Credgenics, a software-as-a-service (SaaS) debt resolution platform, has acquired a majority stake in debt collection firm Arrise to enhance its field debt collections.
The company, which works with more than 150 financial service companies in debt collection, said this move will enhance its collections technology and support Arrise's expansion across India. The company did not disclose the exact stake it acquired but confirmed it holds a majority stake.
"Whatever optimisations we can drive for the lender, we will drive much better if we also bring that in-house team," Rishab Goel, chief executive officer of Credgenics, told ET. "With this acquisition, we want to first digitise their end-to-end operations. The mandate is to enable and deploy the collection platform and software with agents, making the existing manpower more efficient for clients." Founded in 2019, Arrise provides call centre expertise and on-field operations and maintains a presence across more than 25 states. Under the recent deal, the company's existing leadership will remain unchanged for five years, the company deal is a combination of stock and cash, with the majority of the cash component to be used as primary capital by Arisse, the company company claims it will become a full-stack collections solutions provider, including on-field operations across more than 18,000 pin codes, digital collections, repayment management systems, and voice bots, among other reported on June 11 that Credgenics reported a nearly threefold increase in profit to Rs 25 crore in FY25. The Noida-based company's total revenue rose to Rs 220 crore in FY25, up from Rs 155.6 crore the previous year. Backed by major investors like WestBridge, Accel, Tanglin Venture Partners, and others, Credgenics has raised $79 million over multiple equity funding rounds. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Hacking, ransom, lawsuits: Why social engineering is TCS, Cognizant's latest headache
Govt easing policies to boost growth; when will industry play ball?
Can new shipping laws bury the ghost of British legacy?
How IDBI banker landed plush Delhi properties in Amtek's INR33k crore skimming
Stock Radar: M&M hits fresh record high in August 2025; time to buy or book profits?
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
F&O Radar | Deploy Bull Call Spread in Nifty to play index reversal
Stock picks of the week: 5 stocks with consistent score improvement and return potential of more than 20% in 1 year
