Home Debt Resolution Startup Credgenics to Add 100 Employees To Boost Growth

Debt Resolution Startup Credgenics to Add 100 Employees To Boost Growth

Press Release: March 25, 2021

Credgenics, the debt resolution, legal automation and an end-to-end SaaS-based platform, has announced plans to increase its headcount by 100 staff. 

Credgenics intend to take the headcount to over 200 by the second financial quarter of this year. The new hires will be at entry and mid-level and will be in areas such as product development, technology, legal, and operations. 

The new roles will meet growing client demand to provide seamless service delivery and build an end-to-end customized debt recovery solution that requires product augmentation, enhancements, scalable features, etc. 

Credgenics works with diverse clients across the financial services and, during the pandemic, signed India’s two leading and largest banks, ICICI bank and HDFC Bank. 

With Credgenics, the average time and cost of collections rates reduced from 68 days to 42 days and 22% to 14%, respectively. The collected amount increased from 74 to 83%. The present client size of Credgenics includes 6 large Indian banks and more than 34 NBFCs.  
 
Mr. Risahbh Goel, CEO and Co-Founder, Credgenics, said: “There has been a consistent growth in our client base and an increase in demand for our full-stack technological and service offering for debt resolution and management. We are looking for experienced professionals across functions and industries for seamless service delivery to our clients, while by no means compensating on our ethics."

Mr. Mayank Khera, COO and Co-Founder, Credgenics, said: “Debt collection by far is the most debated topic in the banking sector, but it is important to collect debts for financial robustness. It is even more important to collect debts, and retain customer. While the economic status of India is constantly elevating, it is important to free the markets of debts so that a healthy competition prevails and encourages MNCs to rapidly spend in the Indian market. We are working towards building and strengthening our legal team which will add value to our clients and will ensure successful business.”

“In the case of debt collection, information is the most powerful arsenal. Big Data Analytics helps acquire the most pertinent information by giving access to data that helps personalize debt collection. This is a powerful combination that was not available just a couple of years ago. We are looking at on-boarding tech leads, data scientists, and senior software engineers, who will strengthen our technology arm and provide customized services to our clients," added Mr. Anand Agrawal, CTO and Co-Founder, Credgenics.

About Credgenics

Co-Founded in 2018 by IIT-Delhi Alumni and eminent lawyers Rishabh Goel, Anand Agrawal, and Mayank Khera, Credgenics is India's only technology enabled platform for resolution of non-performing assets in the larger BFSI and fintech lending space. 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 very instance of the default till the final resolution stage. Credgencis also reduces human efforts in areas like digital communication, drafting, tracking of notices sent via speed post, and tracking of legal cases filed in court in an automated manner with relevant reminders implemented. NBFCs, Banks, ARCs, and fintech lending start-ups, can thus improve their collection efficiency using technology, automation intelligence, and optimal legal routes. Credgenics currently works with 2200+ lawyers and collection partners. 

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