Debt recovery solutions provider Credgenics, which is backed by investors including Westbridge Capital and Accel, has acquired Arrise.

As part of the transaction, the current management team at Arrise will remain in leadership roles for at least five years, per the company statement.

The financial details of the transaction was not disclosed.

This strategic move will allow Credgenics to utilize Arrise's extensive India-wide infrastructure, extending its operational footprint to over 18,000 postal codes.

This purchase forms part of Credgenics' fresh strategy called 'CG Setu', through which the enterprise technology company plans to use this acquisition to deploy technology-enabled field personnel for enhanced debt collection efficiency and improved operational performance.

"CG Setu represents a paradigm shift in field collection methodologies through its streamlined, analytics-based, and regulation-compliant framework. This initiative will boost operational effectiveness and ensure complete transparency for lending institutions while delivering an enhanced experience for borrowers," said Rishabh Goel, co-founder and Chief Executive of Credgenics.

The combined entity now aims to achieve joint annual revenue of Rs 850 crore within the next three-year period.

Established in 2019, Credgenics provides software-as-a-service (SaaS) tools that assist financial institutions, non-banking finance companies (NBFCs), and fintech firms in managing loan recovery processes.

The company had last raised $50 million in Series B funding round in 2023 led by Westbridge Capital, Accel and Tanglin Ventures along with Beams Fintech Fund.

Arrise, established in 2019 by founders Avadhut Thali and Kunal Sawhney, specializes in multi-language customer outreach services, field-based collection operations, automated voice systems, payment management platforms, and advisory services for collection and legal processes.