Debt collection platform Credgenics expands its portfolio with the acquisition of Arrise, a SaaS-based company.

In a strategic move to disrupt the field collections model, fintech-focused SaaS platform Credgenics has announced the acquisition of a majority stake in debt collection firm Arrise. The acquisition, under Credgenics' new initiative named CG Setu, marks a significant step forward in Credgenics' mission to transform debt collections with technology.

Founded in 2019, Credgenics has established a strong presence with clients such as ICICI Bank, HDFC Bank, Mahindra Finance, and IIFL Finance. The Noida-based startup reported impressive financial figures in FY25, with operating revenue of Rs 220 crore and a profit before tax of Rs 25 crore. The company has also raised about $79 million from investors including WestBridge, Accel, and Tanglin Venture Partners, and was last valued at $340 million in 2023.

Arrise, also founded in 2019, offers multilingual calling services, on-ground collections, voice bots, repayment management systems, and consulting on collections and legal workflows. The debt collection firm has a pan-India presence across more than 25 states and a reach of over 18,000 pincodes. Avadhut Thali and Kunal Sawhney lead Arrise, but the founder remains unnamed in the provided search results.

The acquisition was a cash-and-stock deal, with most of the cash component being used by Arrise as primary growth capital. Arrise will continue to operate under its existing leadership for at least five years. CG Setu will integrate Arrise's operations into Credgenics' technology platform, which tracks millions of loan accounts for over 150 financial institutions.

Rishabh Goel, cofounder and CEO of Credgenics, expressed his excitement about the acquisition, stating, "This acquisition marks a significant step forward in Credgenics' mission to transform debt collections with technology." The combined entity is targeting annual revenues of Rs 850 crore within the next three years.

CG Setu aims to disrupt the field collections model with its efficient, data-driven, and compliant approach. The initiative is part of Credgenics' strategy to expand into field collections, further solidifying its position in the fintech industry. The acquisition of Arrise is expected to accelerate this growth and bring about a revolution in the debt collection sector.

Debt collection platform Credgenics expands its portfolio with the acquisition of Arrise, a SaaS-based company.