India, Aug. 19 -- SaaS-centric debt collection platform Credgenics has acquired rival service provider Arrise. However, Credgenics didn't disclose the acquisition cost.

In a statement, Credgenics said that the acquisition will enable it to leverage Arrise's pan-India network, expand its reach to 18,000+ pincodes, and pave the way for the SaaS platform to become a "full-stack collections solutions" provider.

It also said that Arrise will continue to be helmed by the existing leadership team for a minimum period of five years.

The acquisition is part of Credgenics' new initiative 'CG Setu', which will see the enterprise tech startup leverage the acquisition to deploy a fleet of "digitally-empowered personnel" to scale up debt collections...