Credgenics Expands its Leadership Team to Drive Next Phase of Growth

Credgenics, the leading provider of SaaS based collections and debt-recovery technology platform worldwide, today announced the expansion of its core leadership team as part of its next phase growth plan for existing markets and entry into global markets. New additions to the Credgenics leadership team include Vibhor Singhal as Head of Engineering, Nitin Garg as Head of Marketing, Asvini Krishnan as Head of Finance, Manjari Lakshmanan as Head of Product, Aakash Agarwal as Head of Data Science, Sukhpreet Singh as Head of HR, and Abhishek Sharma as Director of Sales.

In addition to the leadership team, Credgenics also plans to hire over 100 new professionals across technology, data science, strategy, sales, finance, support, and operations verticals over the next 12 months. The growing urgency among banks for digitization in loan collections and strong support for the platform from the banking and finance community in India has helped Credgenics gain rapid market share in India.

Leadership Team Additions

Vibhor Singhal, who comes with over a decade of extensive experience in building core technology platforms, leading engineering teams, and establishing an agile work culture, has joined as Head of Engineering
Nitin Garg, with more than a decade of proven expertise in strategically marketing complex enterprise technology solutions for BFSI across diverse markets worldwide, is on-board as Head of Marketing
Asvini Krishnan, an expert in financial planning and management with experience of more than 15 years has joined as Head of Finance
Manjari Lakshmanan, with a track record of building technology platforms from scratch, championing product visions, and devising roadmaps over more than 11 years of expertise, is aboard as Head of Product
Aakash Agarwal has joined as Head of Data Science to drive the enrichment of ML capabilities and the broader data science vision at Credgenics by leveraging his more than 11 years of expertise.
Sukhpreet Singh has joined as Head of HR with focus on driving a people-centric culture and establishing a strong values driven framework building on his more than 11 years of experience
Abhishek Sharma, with more than 13 years of diverse experience in Solution Sales, Technology Consulting, and Business Advisory is onboard as Director of Sales, to drive Credgenics’ rapid business expansion.

Commenting on the leadership expansion, Rishabh Goel, Co-founder and CEO, Credgenics said, “The banking and fintech ecosystem is rapidly understanding the value of automating debt collections and resolutions spurred on further by evolving business needs, rising customer expectations and enhanced regulatory push from the RBI. The business value that we are delivering to our existing customers combined with our continued focus on innovation is helping us grow at a past pace. The new leadership team will propel us into the next orbit of growth.”

Anand Agrawal, Co-founder and CTO, Credgenics said, “The strong demand for a mature, comprehensive and end-to-end digital platform in collections that we have seen over the past one year is extremely encouraging. We are looking at further enhancing our pace of disruptive innovation and adding more value to our customers through new use cases and increasing focus on ML and data science capabilities. Addition of the leadership team with diverse expertise and skills will help us move ahead in our vision to establish Credgenics as a global leader in the debt recovery space.”

About Credgenics

Credgenics is a leading provider of loan collections and debt recovery technology solutions for Banks, NBFCs, ARCs & Digital lending firms worldwide. Credgenics’ SaaS platform helps lenders with end-to-end digitized loan collections through a mix of AI-led digital communications, litigation services, integrated payments platform, and a feet-on-street app for collections agents. With Credgenics, lenders have boosted their collections efficiency, enhanced the recovery rates and transformed their customer experiences. https://www.credgenics.com/

Credgenics Wins NASSCOM Emerge 50 Award; Placed in League of 10

Credgenics, India’s leading technology-enabled debt recovery and legal automation Software-as-a-Service (SaaS) platform, received the prestigious NASSCOM Emerge 50, an eminent award in the software products industry. Credgenics, the constantly growing debt recovery platform, also received a special recognition of being included in the NASSCOM Emerge 50’s ‘League of 10’, as the only fintech company in the list.

Credgenics’ debt recovery and legal automation SaaS platform recognized for addressing the
NPA challenge in the BFSI sector .

The NASSCOM Emerge 50 platform recognizes and honors India’s finest emerging software product companies that have displayed innovation, grit and resilience in the face of adversity. Over the last 12 years, NASSCOM Emerge 50 awards represents India’s finest software product companies that are solving real global problems.

After due diligence and comprehensive deliberation by 85+ jury members including product leaders, investors, entrepreneurs and industry leaders, the esteemed bench chose Credgenics as one of the Top 50 #WorldClassFromIndia winners out of 700+ companies that were considered.

Commenting on this recognition, Rishabh Goel, Co-founder and CEO, Credgenics said, “We are pleased to be recognized by NASSCOM for our efforts in building India’s leading SaaS platform for addressing NPA challenge in the BFSI sector. This award is a recognition of the efforts of every member of the Credgenics team, who worked tirelessly to make the company what it is today. I am proud of our team and am looking forward to the new milestones we have set our sights on.”

Credgenics works with over 50+ Banks, NBFCs and digital lending ﬁrms, helping them with end-to-end debt recovery solutions. Founded in 2018 by Anand Agrawal, Rishabh Goel, and Mayank Khera as a legal solution provider, today the company helps with end-to-end debt collections through a mix of AI-led digital communications, litigation services, an integrated payments platform, and a feet-on-street app for collections agents. This comprehensive collections setup has brought increased transparency for lenders and helped streamline collections efforts, thereby improving lenders’ recovery rates and enabling higher cost efficiency.

About Credgenics:

Co-founded in 2018 by IIT-Delhi Alumni and eminent lawyers Rishabh Goel, Anand Agrawal, and Mayank Khera, Credgenics, is India’s leading technology-enabled platform for resolution of non-performing assets for BFSI and fintech lending. The automation-first, analytics focused platform is robust, highly efficient, transparent, and cost-effective. Its intelligent system and case tracking tools manage and track loans from the instance of default till the final resolution stage. Credgenics also reduces human efforts with digital-first communication, drafting and tracking of legal notices sent via speed post and tracking of legal cases filed in court in an automated manner with relevant reminders. NBFCs, Banks, ARCs, and fintech lending start-ups can improve their collection efficiency using technology, automation intelligence, and legal services. Credgenics currently works with 2200+ lawyers and collection partners.

Debt resolution startup Credgenics expands leadership in pace with its exponential growth

Credgenics, a first-of-its kind debt resolution platform, has recently expanded its leadership team, soon after its $25Mn Series-A fundraise. Sandeep Dinodiya, a 11-year veteran in technology and product, having built global systems for unicorns and MNCs like OYO, Lenskart and Cisco, has joined as Head of Engineering. Sanchit Dayal, an ex-Investment analyst with WestBridge Capital, has joined as the new Chief of Staff. Yash Dabriwal, a former management consultant at McKinsey is onboard as Head of Growth and Strategic Initiatives to drive overall company strategy and steer global expansion. Ramashis Biswas, having previously scaled HR teams at 91springboard & Shuttl is the new Head of HR & Admin. Ashish Mittal, with deep experience in customer lifecycle journey through his stints with Adobe, Sprinklr and Moser Baer is onboard as Head of Customer Success.

The new leadership team will be playing a critical role as the company continues to meet the demand from a growing client-base for seamless collections services through a customized debt recovery platform. This hiring will help in executing product enhancement and expansion plans for international markets such as SEA and MENA to help address the bad loans problem in these geographies.

Credgenics works across the financial services space, handling loan book over Rs. 1,500 crores for 50+ large Indian banks, NBFCs and Fintech lenders including HDFC Bank, ICICI Bank, Axis Bank, DMI Finance and Zest Money. With Credgenics, clients have seen an improvement in resolution rates by up to 12% and a reduction in resolution time by up to 20 days.

Commenting on leadership expansion, Rishabh Goel, Co-Founder & CEO, Credgenics, said, “We had to strengthen our leadership as we aggressively expand in India and beyond. I am delighted with the latest additions to the fast-growing Credgenics family. Their diverse, in-depth experience and complimentary skillsets are what we need right now. We are looking at more senior hires across product, data science, sales, marketing, finance and operations in the coming months.”

About Credgenics:

Co-Founded in 2018 by IIT-Delhi Alumni and eminent lawyers Rishabh Goel, Anand Agrawal, and Mayank Khera, Credgenics is India’s first technology enabled platform for resolution of non-performing assets for BFSI and fintech lending. The automation-first, analytics focused platform is robust, highly efficient, transparent, and cost-effective. Its intelligent systems and case tracking tools manage and track loans from the instance of default till the final resolution stage. Credgenics also enhances collections efforts through intelligent digital communication, drafting and tracking of physical and digital notices, managing legal cases and feet-on-street in an automated manner. NBFCs, Banks, ARCs, and fintech lending start-ups can improve their collection efficiency using technology, automation intelligence, and optimal legal routes. Credgenics currently works with 2200+ lawyers and collection partners.

Credgenics launches CG Collect App to help lenders and collection agents

National, September 30, 2021: Credgenics, India’s first-of-its-kind SaaS-based end-to-end debt resolution and legal automation platform, is excited to announce the launch of CG Collect – a mobile application to help the lenders/managers track the collections agents, monitor their activities, and evaluate their performance. Alongside this, it helps the agents navigate to the borrowers’ location with ease, schedule visits with a couple of clicks, showcase legal notices to the borrowers, and access e-receipts for proof of payments, among other benefits. This Feet-On-Street (FOS) loan recovery application can significantly improve the productivity of collection agents. The app is now available on Google Play Store, and will soon be live on Apple App Store as well.

The mobile app closely integrates with the Credgenics web platform and allows features like navigation to the applicant provided address, direct calling of borrowers, geo-tracking of the agent’s live location, logging collection details (like recovered amount, collection mode and status for successful and failed recoveries), collection and visit proof, single & multiple loan deposit to the lender’s bank/company branch, and collection receipt’s integration with the communication channels like Email, SMS, WhatsApp, etc.

Commenting on the launch, Anand Agrawal, Co-Founder & CTO, Credgenics, said, “We are really excited to introduce loan recovery FOS application for the collection agents and the managers. Through this CG Platform, managers can benefit from hassle-free loan allocation, easy tracking of agents and cases allocated to them and the corresponding collection cycles. Besides this, collection agents could easily manage and plan the loans in their portfolio. They can check for important parameters against those loans like DPD values, legal notice copies, agents’ distance from the borrowers, and their allocation month. This helps them easily create, track and execute their pending tasks”.

He further added, “This application has been carefully designed to renew our promise to digitally transform the collection activities and make it more cost and time efficient. The areas where the traditional means of collections through agents is prevalent, CG COLLECT will help the agents and the managers use a simple technology to do their work more efficiently. Remaining true to our aim, we would try to bring more offerings in the course of our journey to promote the cause of good assets and digital transformation.”

Credgenics manages over INR 1,500 crores of debt on its financial platform and helps their clients by significantly improving the resolution rates by up to 20% and up to 20-days reduction in the resolution time. The team comprises of 150+ members, with a strong 70+ member tech and product team. Credgenics also has 2200+ legal counsels empanelled pan-India for arbitration and legal steps in late stage delinquencies. To facilitate the debt recoveries and thereby remedy the steep rise in the NPA, the company works with 7 leading private banks like ICICI Bank, IDFC First, Axis Bank and Kotak Bank, besides 40+ marquee NBFCs like IIFL Finance, Loantap, DMI Finance, Clix Capital, Udaan, Moneytap, Moneyview, among others.

Recently, Credgenics received US$25 Million in Series-A round and multiplied its valuation by 5.5 times to $100 million. The round was led by reputed investors Westbridge Capital, Tanglin Venture Partners, and Accel Partners, along with the participation of other marquee investors.

About Credgenics:

Founded in 2018 by IIT Delhi Alumni, Rishabh Goel and Anand Agrawal, and advocate Mayank Khera, Credgenics is a SaaS-based collections and legal automation platform aiming to solve India’s $200 billion+ bad debt problem. Credgenics works with major private sector banks, such as ICICI Bank, IDFC First, Axis Bank, and Yes Bank, besides 40+ NBFCs like Loantap, DMI Finance, Clix Capital, Udaan, Moneytap, Moneyview, etc. Credgenics currently works with 2200+ empanelled lawyers and collection partners. The organization aims to ultimately foster financial inclusion in India through expeditious resolution of unprecedented volumes of stressed assets in larger finance/fintech space.