Debt collection technology firm Credgenics reported strong revenue growth in FY25 and is gearing up for expansion and acquisitions. The Noida-based company recorded ₹220 crore in revenue for FY25, marking a 42% increase from ₹155 crore in the previous fiscal. It also posted a profit before tax of ₹25 crore for the year.

Serving more than 150 banks and NBFCs globally, the SaaS-based platform is now sitting on a cash reserve that surpasses the total equity it has raised to date. The company plans to utilize these funds for strategic acquisitions and to expand its international footprint.

“We have built a strong cash position, exceeding the total primary equity capital we’ve raised,” Rishabh Goel, Co-founder and CEO of Credgenics said. “Our business performance has allowed us to generate additional cash beyond the capital infused in our funding rounds,” he added.

Despite a tough year for the personal lending sector, marked by declining loan disbursement volumes, Credgenics has continued to grow by harnessing artificial intelligence and diversifying into new lending categories like business loans and commercial vehicle financing. Its software solutions generate approximately 62% of the company’s revenue, while its service offerings contribute the remaining share.

“We saw a lot of traction on GenAI-based bots, a lot of manual intervention was reduced by a lot of technological intervention. 65% resolution in early stages happens digitally through bots, WhatsApp, multiple digital channels, and then remaining 35% flows to the human queue,” said Goel.

This represents a significant change from earlier, when 80% of collection calls were made manually, he added.

The company is actively exploring acquisitions as part of its strategy to evolve into a full-stack provider across the lending technology value chain.

“We are planning on becoming a full stack player, or doing more in our domain and adding infra layers in the entire lending function. We are looking at synergies in the risk side of collection,” said Goel.

Potential acquisitions could be in the areas of underwriting and risk assessment technologies.

Credgenics has already commenced international expansion, establishing operations in Indonesia in 2022 with a 12-member team. The Indonesia operation has grown into a “Rs 15 crore to Rs 20 crore territory,” according to Goel.

Unlike many startups that focus on growth at the expense of profitability in their early phases, Credgenics has adopted a disciplined capital deployment strategy. The company reported a profit before tax of around ₹25 crore in FY25, building on its profit after tax of ₹8.38 crore in the previous year, highlighting its commitment to sustainable and profitable growth.

Credgenics, which already serves over 150 active NBFCs and banks largely in the private sector, says there is still significant room for expansion.

“There are another 300 potential clients in the private sector alone that we haven’t tapped into yet,” said Goel.

Looking ahead, Goel expresses confidence about the company’s growth trajectory.

“This year, we are planning to double down in terms of the revenue numbers,” he said.

Despite ongoing challenges in the personal lending sector, where regulatory tightening has impacted unsecured lending, Goel is optimistic.

“I don’t see that (challenges) going away anytime soon, but overall growth of economy and India, and also the other lending products which are doing well, will provide opportunities for continued expansion.”

The company plans to pursue acquisitions and expand globally, positioning itself to become a comprehensive player in the lending technology ecosystem.