Top Startup Players in Debt Collection & Recovery in India

Credgenics

Based in Uttar Pradesh, Credgenics is an inventive Fintech startup providing progressive and cutting-edge debt resolution and data-driven loan collection solutions for NBFCs, banks, digital lending companies, and ARCs globally. Their specifications cover advanced debt collections lifecycle with secured technology capabilities such as AI-driven tools, predictor models, multi-channel communications, field collections, litigation management systems, and Billzy digital payments.

“As a leading technology platform provider for loan collections and debt recoveries, Credgenics is committed to transforming this space and facilitating a unique win-win proposition for the entire ecosystem. We are already working with some of the leading banks and non-banking finance companies for digitizing their collections in rural India”, - Anand Agrawal, Co-Founder & CTO, Credgenics.

Credility

Presenting agile and flexible lending solutions that fits the current needs of business, the Maharashtra based Credility is a platform that amalgamates the concept of credit and mobility. Their lending tech solutions are strategically designed to smoothen and hasten the process of financial lending and collection. The main features of Credility are lending an unwavering support to businesses to handle the complex manual systems and processes with automated functions.

“Trust and Commitment echoes the Value system at Credility”, - Chirag Jain, Founder & CEO

Simplifai

Headquartered in Pune and plotting operations globally, Simplifai is an ingenious IT startup delivering AI-driven services and solutions to scale and systemize the operations through automating the written responses. Their platform spurs with responding and extracting the user queries, claims, and applications, thereby offering solutions including debt handling, collection, customer support solutions, document, queries, and claims handling.

“We have deep understanding of the diverse markets and ability to deliver modern AI solutions that resonate with our clients' unique needs. Our team's dedication to innovation and customer success is at the heart of this achievement, and I am proud to be leading the sales efforts in these regions”, - Vikas Kumar, Head of New Sales - APAC & Middle East, Simplifai.

Legodesk

Based in Bengaluru, Legodesk is an inclusive platform acts as a one-stop destination for debt resolution for lenders. In order to restructure the landscape of debt collections, their ground-breaking platform digitizes the process of debt recovery for all kinds of businesses and lenders to enhance their competitiveness in the market via collaborative tools, extreme digital debt recovery support, smart case allocation, and crime tracking.

“I'm noticing a fascinating shift in the Indian debt recovery landscape. India has been a leader in digital-first fintech implementation, with widespread adoption of credit cards, digital payments, and even debt disbursal happening online”. - Ashish Padhy, Founder, Legodesk.

In the digital era, the occurrence of debt collectors and recovery platforms seems to be pivotal for supporting the credit-balancing cycle of India. Despite supporting the financial bodies and agencies to manage their assets and capital, they are contributing to cultivate strong and responsive financial environment in the economic landscape through nurturing trust and financial stability.

As they are firmly adapt to the evolving market trends and conditions, the debt collection and recovery platforms are sturdily altering the way of debt collecting with secured regulatory factors, and technological advancements. By seeing all these progression, certainly India is set to be more successful in upcoming years through embracing the power of digital transformation.