Credgenics takes majority stake in debt collection firm Arrise

Credgenics, a software-as-a-service (SaaS) debt resolution platform, has acquired a majority stake in debt collection firm Arrise to enhance its field debt collections.

The company, which works with more than 150 financial service companies in debt collection, said this move will enhance its collections technology and support Arrise’s expansion across India. The company did not disclose the exact stake it acquired but confirmed it holds a majority stake.