Debt Resolution Startup Credgenics to add 100 Employees across functions to boost growth
Credgenics, India’s first of its kind debt resolution, legal automation and an end-to-end, SaaS-based platform, today announced to increase its headcount by 100 skilled professionals. Credgenics intend to take the headcount to over 200 by the second financial quarter of this year. The new hires will be at entry (at the operational level) and mid-level and will be in areas such as product development, technology, legal, and operations. With the fresh hiring, across domains the team sizes are expected to grow, for instance the technology and legal teams of Credgenics will grow more than twice the size of their current strength. The fresh hiring will meet the growing demand of the client-base to provide seamless service delivery and build the end-to-end customized debt recovery solution that requires product augmentation, enhancements, scalable features, etc.
Credgenics works with diverse clients across the financial services, and is already catering to over Rs.580 crores of loan book. During the pandemic, Credgenics has signed India’s two leading and largest banks, ICICI bank and HDFC Bank. With Credgenics, the average time and cost of collections rates reduced from 68 days to 42 days and 22% to 14%, respectively. The collected amount increased from 74 to 83%. The present client size of Credgenics includes 06 large Indian banks and more than 34 NBFCs.
In his comments, Mr. Risahbh Goel, CEO and Co-Founder, Credgenics, said, “There has been a consistent growth in our client base and an increase in demand for our full-stack technological and service offering for debt resolution and management. We are looking for experienced professionals across functions and industries for seamless service delivery to our clients, while by no means compensating on our ethics. “
In his comments, Mr. Mayank Khera, COO and Co-Founder, Credgenics, said, “Debt collection by far is the most debated topic in the banking sector, but it is important to collect debts for financial robustness. It is even more important to collect debts, and retain customer. While the economic status of India is constantly elevating, it is important to free the markets of debts so that a healthy competition prevails and encourages MNCs to rapidly spend in the Indian market. We are working towards building and strengthening our legal team which will add value to our clients and will ensure successful business.”
“In the case of debt collection, information is the most powerful arsenal. Big Data Analytics helps acquire the most pertinent information by giving access to data that helps personalize debt collection. This is a powerful combination that was not available just a couple of years ago. We are looking at on-boarding tech leads, data scientists, and senior software engineers, etc., who will strengthen our technology arm and provide customized services to our clients, added, Mr. Anand Agrawal, CTO and Co-Founder, Credgenics.