Total amount raised
$78.6 Million
Latest funding date
8/1/2023
Location
Credgenics has successfully raised funds through multiple rounds, attracting significant investment from notable firms such as WestBridge Capital and Accel. The platform specializes in debt recovery and legal automation, leveraging advanced technologies to streamline these processes for financial institutions.
Keep reading to explore the intricacies of Credgenics' fundraising journey and the investors backing this innovative platform.
What Is Credgenics?
Credgenics, headquartered in Noida, Uttar Pradesh, India, is a leading SaaS-based platform specializing in debt recovery and legal automation. The company operates in various industries, including FinTech, Information Technology, and Legal Tech, and employs between 251-500 people.
Founded to streamline debt collections for financial institutions, Credgenics leverages advanced technologies like AI and machine learning to provide data-driven insights and personalized borrower engagements. The platform is trusted by over 150 lenders and offers a comprehensive suite of solutions, including digital communications, litigation management, and field collections.
How Much Funding Has Credgenics Raised?
- Seed Round
- Amount Raised: $300,000
- 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 and establish a market presence.
- Seed Round
- Amount Raised: $3,300,000
- Date: October 2020
- Lead Investors: Accel, Titan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand their client base among financial institutions.
- Series A
- Amount Raised: $25,000,000
- Date: July 2021
- Lead Investors: Tanglin Venture Partners, WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and integrate advanced technologies like AI and machine learning into their platform.
- Series B
- Amount Raised: $50,000,000
- Date: August 2023
- Lead Investors: WestBridge Capital, Accel
- Valuation at Round: $340,000,000
- Motivation Behind the Round: To fuel product innovation, expand internationally, and target other segments within the BFSI industry.
Total Amount Raised: $78,600,000. Current Valuation: $340,000,000.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a private equity firm that invests in high-growth companies in India. Co-founded by Sumir Chadha, the firm has a strong focus on technology and financial services.
- Investment Focus Areas: Technology, financial services, consumer goods.
- Notable Investments: PolicyBazaar, Oyo Rooms, Delhivery.
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. The firm is known for its significant investments in technology startups.
- Investment Focus Areas: Consumer internet, enterprise software, fintech.
- Notable Investments: Flipkart, Swiggy, Freshworks.
- Tanglin Venture Partners
- Details: Tanglin Venture Partners is a venture capital firm focusing on early-stage investments. The firm aims to support technology-driven companies.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Moglix, Ninjacart.
- Beams FinTech Fund
- Details: Beams FinTech Fund is a fund that invests in fintech companies. The fund aims to support innovative financial technology solutions.
- Investment Focus Areas: Fintech.
- Notable Investments: Specific notable investments are not mentioned.
- Titan Capital
- Details: Titan Capital is an investment firm that focuses on early-stage startups. The firm has been involved in multiple funding rounds for Credgenics.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
What's Next for Credgenics?
Credgenics stands at the cusp of significant growth opportunities, fueled by its recent $50 million Series B funding round. The company plans to leverage this capital for product innovation, international expansion, and targeting new segments within the BFSI industry. With a valuation of $340 million and a robust client base, Credgenics is well-positioned to scale its operations and enhance its technology offerings.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the recent funding round. As Credgenics continues to grow and innovate, it is likely to attract further investment to support its ambitious expansion plans. However, the company may face challenges such as navigating regulatory environments in new markets and maintaining its rapid growth while ensuring product quality and customer satisfaction.
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