Fintech company Perfios
As part of its Series D funding round, Bengaluru-based fintech company Perfios has agreed to accept an investment of $229 Million from Kedaara Capital via a primary and secondary sale. The investment comes nearly 19 months after Perfios raised $70 million at a $400 million value, albeit the exact split was not disclosed.
It wants to use the money to expand internationally, especially in the European and North American markets. The company also intends to make technological investments to improve its full suite of decision analytics SaaS offerings. The financial, insurance, and embedded commerce industries can all benefit from these products’ efforts to improve the client experience.
The company’s losses decreased by 62% year-on-year (YoY) to INR 12.36 Cr while revenues increased by 88% to INR 136 Cr in FY22. With only PhonePe, Lenskart, Ather Energy, and DMI Finance having raised larger funding rounds this year, Perfios’ round has become one of the largest investments in a year defined by massive funding adjustments.
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B2B and B2C credit decisioning
Perfios is a B2B and B2C credit decisioning and analytics firm founded in 2008 by VR Govindarajan and Debasish Chakraborty. The business currently serves 18 countries and partners with over a thousand banks, as reported by the company.
The firm performs 1.7 billion transactions each year with an AUM of $36 billion, and it claims to give 8.2 billion data points to financial institutions annually to aid in quicker decision-making.
Over $130 million has been invested by Bessemer Venture Partners, Warburg Pincus, and Stride Ventures since the company’s inception.
By modifying origination, onboarding, decision, underwriting, and monitoring procedures, Perfios aids financial institutions. The company has approximately 75 products/platforms and 500+ application programming interfaces.
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