by Credgenics, a debt recovery and legal automation platform, has raised $50 Mn in Series B funding from WestBridge Capital, Accel Partners, and others. The investment will be used to expand the company’s product offerings and to reach more customers.
Credgenics was founded in 2021 by Rishabh Goel, Anand Agrawal, and Mayank Khera. The company offers a range of debt recovery and legal automation solutions, including a cloud-based platform that allows banks and NBFCs to manage their entire debt recovery process end-to-end. Credgenics’ platform also provides legal support to banks and NBFCs, including drafting legal documents, representing them in court, and collecting payments from debtors.
The company’s mission is to make debt recovery and legal automation affordable and accessible to banks and NBFCs. Credgenics believes that its solutions can help banks and NBFCs to recover their dues faster and at a lower cost. The company’s solutions are also designed to help banks and NBFCs to reduce their risk exposure.
The investment from WestBridge Capital, Accel Partners, and others is a significant endorsement for Credgenics. It shows that investors believe in the company’s potential to disrupt the debt recovery and legal automation industry. The investment is also likely to help Credgenics to scale up its operations and to reach more customers.
The investment in Credgenics is part of a broader trend of investors backing startups that are offering innovative solutions to the banking and financial services industry. Debt recovery and legal automation is a rapidly growing market, and Credgenics is well-positioned to capitalize on this growth. The company is likely to continue to grow rapidly in the coming years.
