PE Fund Investments
Debt resolution tech co Credgenics raises Rs.414-Cr from Westbridge Capital, Accel, others
Noida-based fintech startup Credgenics has raised USD 50 million in a funding round led by Westbridge Capital and Accel India. Tanglin Ventures and Beams Fintech Fund also participated in the fundraise. The company has raised the fresh funds at an enterprise valuation of USD 340 million, which is 3.4 times higher compared to the valuation in the last funding round. The funds will be used for product innovation, international expansion, and growth. . Credgenics offers debt resolution solutions such as payment collection, digital analytics, litigation management, field collections, mobile app and agent performance management. The company claims to have turned operationally profitable, reaching a revenue of INR 100 crore in FY23. It has offices in India, Indonesia and Singapore and plans to open one in Vietnam.
From the Venture Intelligence PE-VC Deal Database: Between Oct 2020 and Aug 2021, Credgenics had raised $30-M from Accel India, WestBridge, Tanglin Venture Partners, DMI Group, Others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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