Total amount raised
$78.6 Millions
Latest funding date
Location
Title
Credgenics has successfully raised significant funding through multiple rounds, with the latest being a Series B round. The platform specializes in debt recovery and legal automation, leveraging AI and machine learning to optimize these processes.
Keep reading to explore the intricacies of Credgenics' fundraising journey and the investors backing this innovative platform.
What Is Credgenics?
Founded in 2018, Credgenics is a tech-enabled platform specializing in debt recovery and legal automation. The company is headquartered in Noida, Uttar Pradesh, India.
Credgenics was established by Aditya Gupta, Anand Agrawal, Mayank Khera, Nitin Upadhyay, and Rishabh Goel. The platform leverages AI and machine learning to optimize debt collection processes for banks and financial institutions.
With a team of 251-500 employees, Credgenics continues to innovate in the field of debt recovery, providing comprehensive solutions that include intelligent communications, real-time case management, and automated legal collections.
How Much Funding Has Credgenics Raised?
- Seed Round (Nov 10, 2019)
- Amount Raised: $300K
- Date: November 2019
- Lead Investors: Titan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their debt recovery platform.
- Seed Round (Oct 29, 2020)
- Amount Raised: $3.3M
- Date: October 2020
- Lead Investors: Accel, Titan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their AI and machine learning capabilities.
- Series A (Jul 10, 2021)
- Amount Raised: $25M
- Date: July 2021
- Lead Investors: Tanglin Venture Partners, WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand their market reach.
- Series B (Aug 9, 2023)
- Amount Raised: $50M
- Date: August 2023
- Lead Investors: WestBridge Capital, Accel
- Valuation at Round: $340M
- Motivation Behind the Round: To fund product innovation, international expansion, and target other BFSI industry segments.
Total Amount Raised: $78.6M. Current Valuation: $340M.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a prominent investment firm that focuses on high-growth companies in India and South Asia. They have a significant presence in the Indian market and are known for their strategic investments in various sectors.
- Investment Focus Areas: Technology, financial services, healthcare, consumer services.
- Notable Investments: Byju's, Oyo Rooms, PolicyBazaar.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. They have a strong track record of backing successful startups and have a broad portfolio across different industries.
- Investment Focus Areas: Technology, internet, software, consumer services.
- Notable Investments: Flipkart, Swiggy, Freshworks.
- Tanglin Venture Partners
- Details: Tanglin Venture Partners is a venture capital firm focusing on early-stage technology companies. They aim to support innovative solutions and disruptive technologies.
- Investment Focus Areas: Fintech, SaaS, consumer internet.
- Notable Investments: Razorpay, UrbanClap.
- Beams FinTech Fund
- Details: Beams FinTech Fund specializes in investing in fintech companies. They focus on firms that are innovating in financial services and technology.
- Investment Focus Areas: Fintech, financial services, technology.
- Notable Investments: Cred, BharatPe.
- Titan Capital
- Details: Titan Capital is an early-stage investment firm that supports startups with high growth potential. They have a diverse portfolio and are known for their hands-on approach.
- Investment Focus Areas: Technology, consumer internet, fintech.
- Notable Investments: Ola, UrbanClap, Snapdeal.
What's Next for Credgenics?
Credgenics stands at the cusp of significant opportunities, driven by its recent $50 million Series B funding. The company is poised to leverage these funds for product innovation, international expansion, and targeting new segments within the BFSI industry. With a valuation of $340 million and a robust presence in India, Credgenics is set to make substantial inroads into Southeast Asia, enhancing its technology and expanding its customer base.
Future fundraising opportunities appear promising, given the company's rapid growth and operational profitability. Credgenics may seek additional funding rounds to support further expansion and product development. However, challenges such as navigating regulatory environments in new markets and maintaining growth momentum amidst competition could pose hurdles. Despite these challenges, the positive investment climate and increasing reliance on AI-driven debt recovery solutions suggest a bright future for Credgenics.
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