Creditas Solutions

Creditas Solutions, founded in 2015, operates in the financial technology sector, providing debt collection solutions to lending institutions. The company's genesis traces back to the founders', Anshuman Panwar and Madan Srinivasan, shared experience at a stressed-assets fund in London. This background in managing distressed debt highlighted the potential for applying data analytics and technology to improve the debt recovery process in India. Panwar, an alumnus of IIT Delhi and IIM Ahmedabad, and Srinivasan, a graduate of ISB Hyderabad, combined their expertise in client acquisition and technology operations to establish the firm.

The company's primary offering is Ethera, a SaaS-based 'Neo Collections' platform designed to manage the entire delinquency cycle for banks and other financial institutions. Ethera utilizes artificial intelligence and machine learning to automate and personalize the debt collection process. The platform works by integrating with a lender's existing systems, then cleansing and enriching customer data from various sources to create detailed borrower profiles. It then deploys hyper-personalized communication campaigns across multiple channels, using nudges and gamification to engage customers in a non-intrusive manner. This allows borrowers to manage their repayments through a digital interface, providing them with various resolution options. The platform supports numerous Indian vernacular languages to broaden its reach.

Creditas Solutions serves a client base that includes over 20 of India's prominent private sector banks and non-banking financial companies (NBFCs), such as HDFC Bank, ICICI Bank, Axis Bank, and SBI Cards. The business model for its Ethera platform is a combination of a licensing fee and a transaction-based success fee. This approach aims to reduce collection costs for lenders while improving recovery rates by making the process more efficient and customer-centric. Having initially bootstrapped, the company has since raised approximately $6.02 million over several funding rounds from investors including 1Crowd, Infina Finance, and Asia Impact Invest. The firm is now focused on expanding its services to public sector banks, smaller NBFCs, and into new markets in the Middle East and Southeast Asia.

Keywords: debt collection, delinquency management, financial technology, SaaS, neo collections, AI in finance, machine learning, customer engagement, loan recovery, portfolio management, data analytics, fintech solutions, digital lending, automated collections, financial services technology, Anshuman Panwar, Madan Srinivasan, Ethera platform, credit resolution, banking technology