Perfios, a fintech startup headquartered in Bengaluru recently secured $229 million in a Series D funding round led by Kedaara Capital. The investment includes a combination of sales. Will support Perfio’s expansion plans, in North America and Europe. It will also help enhance their decision analytics SaaS products for the banking, insurance, and embedded commerce sectors. Perfios, founded in 2008 operates across 18 countries and collaborates with over 1,000 institutions to provide expedited decision-making processes for institutions using 8.2 billion data points. In the year 2022, the company witnessed a 88% increase, in revenue while reducing losses by an impressive 62%.
Fintech startup Perfios, based in Bengaluru has recently secured an investment of $229 million, in its Series D funding round. The investment comes from Kedaara Capital which involves a combination of secondary sales although the exact breakdown has not been disclosed.
This funding round follows Perfio’s previous raise of $70 million at a valuation of $400 million about 19 months ago.
The infusion of funds will play a role in driving Perfio’s expansion plans on a scale with a particular focus on North America and Europe.
Additionally, the company intends to invest in technology enhancements to further improve its suite of decision analytics SaaS products. These products are designed to streamline customer journeys across sectors such as banking, insurance, and embedded commerce.
Perfios was established in 2008 by VR Govindarajan and Debasish Chakraborty. Operates within both the B2B and B2C segments. Currently operating in 18 countries the company boasts collaborations with over 1,000 institutions.
According to Perfios, it delivers a volume of 8.2 billion data points to banks and financial institutions for expedited decision-making processes. Furthermore, it handles 1.7 billion transactions each year with assets under management (AUM) totaling $36 billion.
Throughout its journey, Perfios has successfully raised, over $130 million from investors including Bessemer Venture Partners, Warburg Pincus, and Stride Ventures.
Perfios assists institutions in optimizing their processes related to origination onboarding, decision-making, underwriting, and monitoring. This startup offers a range of 75+ products and platforms along, with over 500+ APIs.
In the year 2022, Perfios experienced an increase of 88% in its revenue reaching INR 136 crore. Moreover, the company managed to reduce its losses by 62% compared to the year amounting to INR 12.36 crore.
Considering the funding landscape Perfio’s funding round stands out as one of the largest investments made this year. Despite funding corrections across sectors only PhonePe, Lenskart, Ather Energy and DMI Finance managed to secure larger funding rounds, than Perfios.
