Digital and off the ground: The rise of India's new debt collectors

Companies that don't have to be on the field to nudge people to return the money they owe to lenders

Rishab Goel, co-founder of digital-debt collections firm Credgenics, says lenders refer to it every month $5 billion spread over 11 million accounts for recovery: Up from $3.5 billion across 6 million in 2022. “They have realised the potential of digital enablement and data-driven insights to enhance the efficacy of collections.” The old boots-on-the-field approach to collections is passé; and a new way is being chased by capital. The grapevine has it that Credgenics is in the process of a top-up, double the $25 million it raised in 2021 in a series-A funding led by Westbridge Capital, Tanglin Venture Partners, and