Early-stage investment firm Titan Capital has achieved a significant milestone by executing a partial exit from Credgenics, a leading debt recovery and legal automation platform. This strategic move has resulted in an extraordinary return of over 100 times the initial investment, according to insiders familiar with the situation.
This development closely follows Credgenics’ recent announcement of a successful $50 million Series B funding round, which saw participation from esteemed investors like Westbridge Capital, Accel, Tanglin Ventures, and Beams Fintech Fund.
Sources suggest that Titan Capital’s partial divestment translated to an impressive 116x return on their initial investment. In 2020, Titan led a seed round that injected $300,000 into Credgenics, contributing half of the total funds independently.
Credgenics has gained a reputation for its specialized technological solutions designed to enhance loan collections and debt recovery processes for a wide range of financial institutions. Serving global entities such as banks, non-banking finance companies, and digital lending firms, Credgenics proudly manages a whopping 11 million retail loan accounts. Its remarkable performance has led to a remarkable loan book valuation of $47 billion during the fiscal year 2022.
Credgenics boasts a diverse client base of over 100 customers, including renowned names like ICICI Bank, Kotak Bank, Axis Bank, several NBFCs, and fintech companies. This extensive client network has solidified the company’s standing within the industry.
In a recent achievement, Credgenics achieved operational profitability and reported an impressive revenue milestone of Rs 100 crore in the fiscal year 2023. While audited financial reports for the preceding fiscal year are pending, the company disclosed a revenue of Rs 32.54 crore from operations in FY22, accompanied by a loss of Rs 8.26 crore.
Known for its successful support of startups like Ola, Urban Company, Mamaearth, OfBusiness, and Razorpay, Titan Capital has previously executed partial or full exits from various ventures, including Bewakoof, Unicommerce, ANS Commerce, and Netmeds.com. This track record underscores Titan Capital’s knack for identifying promising startups and nurturing them to generate substantial returns.
