In developing economies, like India, poor recovery rates in the lending process had led to a constant increase in the Non-Performing Assets (NPA) with each loan adding up to delinquency. This process was further taxing the economy and increasing the judicial load. What was needed, therefore, was a platform that could bridge the lending and the collection platforms for banks, NBFCs, and fintechs. It was this need that gave birth to Credgenics in 2018. Credgenics is a SaaS-based end-to-end debt recovery platform that was founded by IIT Delhi alumni Rishabh Goel and Anand Agrawal, and advocate Mayank Khera, respectively. With a team of experienced lawyers and technology focused individuals, Credgenics is united in a mission to reduce the exponentially growing NPA in the Indian Economy by harnessing the power of technology and data driven analytics.

Since its establishment, Credgenics has grown to become India's leading Recovery and technology enabled Collections platform that works with financial institutions, Banks, NBFCs, and Digital lending firms to improve their collections efficiency using technology, automation intelligence and optimal legal routes, in order to expedite the recovery of bad loans. Statistically, Credgenics platform manages 580 Cr of loan book for 7 Banks and more than 40 NBFCs. "We are humbled by what we have achieved within the short span of time. In the last three years we have managed to grow our MoM by 80­100 percent and our list of growing clientele," says

Rishabh Goel, Co-founder and CEO. The company has also been successful at reducing the collection time by 22 days while reducing the cost employed by 5 times and generating 16­20 percent of collection rates.

Credgenics provides two main services to their clients end-to-end recovery and legal remedies. The legal services are robust with a dedicated team of lawyers pan India. It involves sending digital and physical notices to the defaulters, registering complaints against the defaulters in the Indian courts and NCTs. For secured loans, assistance in the SARFAESI proceedings are given to the clients. "The legal proceedings are also monitored to prevent the idiomatic expression of ‘justice delayed is justice denied'," adds Mayank Khera, Co-founder and COO. The bigger services segment at Credgenics however is the end-to-end recovery of the loan. This service starts from the initial default and can include legal mediation, if required. SMS, mails, IVRs, and digital and physical legal notices are regularly sent through an automated communication module, and the URLs for the digital notices and the Speed Posts for the physical notices are duly monitored.

Currently, the company is backed by powerful investors like Accel Partners, Tangling Venture Capital, West Bridge Capital, Titan Capital, and other marquee investors. As for the future, the team at Credgenics is in talks for Series-A funding, which will fuel its international expansion to the Asia Pacific, Europe, Middle-East, among other geographies. Apart from the geographic expansion of its services, the company also plans to work on a better and widespread collection process that would enable the team to work in the technologically less empowered areas within the country and abroad. "Our platform features and offerings require constant upgrade and that remain integral to our present and future plan of action. Growing from strength to strength, we aim to be the leaders in our field," concludes Anand Agrawal, Co-founder and CTO.

Management: Rishabh Goel Co-founder and CEO, Mayank Khera, Co-founder and COO and Anand Agrawal, Co-founder and CTO

Description: Credgenics is India's leading Recovery and technology enabled Collections platform that works with financial institutions.

Quote: "In the last three years we have managed to grow MoM by 80­100 percent and our list of growing clientele.

"Online description: Credgenics is India's leading Recovery and technology enabled Collections platform that works with financial institutions, Banks, NBFCs, and Digital lending firms to improve their collections efficiency using technology, automation intelligence, and optimal legal routes in order to expedite the recovery of bad loans.