The current issues of the lending industry can be solved through technology and digitalizing the operations as much as possible. A thorough research and analyses on this matter has led Rishabh Goel to the idea of launching Credgenics, a technological solution to digitize a largely manual collections workflow. Rishabh was soon joined by Anand and Mayank, who are currently the CTO and COO of Credgenics respectively. Analytics Insight has engaged in an exclusive interview with Rishabh to discuss about his vision of creating a technology-based solution for the lending industry. After graduating from IIT Delhi, I worked first with Deutsche Bank and then with Blackrock, where I understood the nuances of the lending industry and observed the problems with the current collections practices.

Established in 2017, Credgenics is a SaaS-based end-to-end debt recovery platform. Presently, over 50 lenders are using the platform, which includes seven banks with notable names like ICICI, Axis, and HDFC and more than 40 NBFCs, such as LoanTap, Drip Capital, Udaan, among others. In the last three years Credgenics has managed to grow MoM from 80–100 per cent. The startup has raised Series-A round funding, with Tanglin Venture Partners and Westbridge Capitals being the main contributors, with participation from the existing investor Accel Partners; the valuation has now reached to US$ 100 million. Credgenics has also on-boarded more than 2200 lawyers and collection-partners, apart from building a solid team of more than 150 enthusiasts and experts.