Credgenics started with the mission to convert bad debts into good assets

Anand Agrawal, CTO and Co-Founder, Credgenics

The Idea: Credgenics is at a confluence of legal, technology, and finance. Founded in 2018 by two IIT Delhi Alumni, Rishabh Goel and Anand Agrawal, and advocate Mayank Khera, aims to solve India’s $200 billion+ bad debt problem.

The SaaS-based firm is India’s leading debt resolution platform that began with the mission to convert bad debts into good assets to help banks and NBFCs, and ultimately the national economy.

Innovations & Services: The platform delivers customised collection strategies and recommends optimal legal routes to facilitate faster resolution of stressed assets which helps creditors efficiently improve their NPA, geographic reach and customer on-boarding. With more than 2200 lawyers and collection partners on-board,

Credgenics assists in execution of finalised strategies and offers a full stack collection as a service platform. It is a new-age smart automation-enabled solution for debt collection is integrated with an AI powered recovery chance predictor which helps lender strategize recovery mechanisms basis chances of recovery and optimise cost of collections.

GTM: Since the platform and the offerings were unique and were already a disruption, hence we did not need an elaborate GTM. The extensive research and the foundational work on the platform and the prevalent condition of the lending ecosystem gave enough inputs to the founders.

Plans for 2021-22: We have grown MoM 80–100% in the last four months and have been able to onboard 32 clients and seven banks. Some of them are our existing clients who have retained our services,

while some of them are new to our SaaS platform. For the new and the existing ones, our plans are to build step-by-step demonstrations and to set-up processes so that we can reduce the numbers of FAQs with solutions in place.

We have plans to raise our next round of funding, while ensuring that due to the pandemic our role to combat NPA and help our clients, remains sturdy.