Titan Capital Achieves Over 100x Return with Partial Exit from Credgenics

• ByStartupStory     |    August 19, 2023

Early-stage investor Titan Capital has successfully executed a partial exit from the debt recovery and legal automation platform, Credgenics, yielding an exceptional return of more than 100 times the initial investment, according to sources familiar with the matter.

This development follows closely after Credgenics’ recent announcement of a $50 million Series B funding round, led by Westbridge Capital and Accel. Participating in the round were Tanglin Ventures, Beams Fintech Fund, and other strategic investors.

Sources indicate that Titan Capital’s partial stake sale resulted in an impressive 116x return on their investment. In 2020, Titan led a $300,000 seed round in Credgenics, contributing half of the funds independently.

Credgenics specializes in offering advanced technology solutions for loan collections and debt recovery to various financial institutions, including banks, non-banking finance companies, and digital lending firms on a global scale. The company proudly manages 11 million retail loan accounts and has achieved a substantial loan book valuation of $47 billion in the fiscal year 2022.

Collaborating with a diverse clientele of over 100 customers, including prominent names like ICICI Bank, Kotak Bank, Axis Bank, and multiple NBFCs and fintech companies, Credgenics has solidified its position in the industry.

The company recently achieved operational profitability and reported a revenue milestone of Rs 100 crore in FY23. While audited financials for the previous fiscal year are pending, the company disclosed that it earned Rs 32.54 crore in revenue from operations in FY22, with a loss of Rs 8.26 crore.

Titan Capital, known for its support of successful startups like Ola, Urban Company, Mamaearth, OfBusiness, and Razorpay, has previously executed partial or full exits from other ventures, including Bewakoof, Unicommerce, ANS Commerce, and Netmeds.com.

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