B2B fintech startup Perfios Secures $80 million from Teachers' Venture Growth
A SaaS based B2B fintech platform Perfios has recently raised $80 million in a new funding round led by Teachers’ Venture Growth (TVG), which is the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.
This Bengaluru based firm gained this fresh fund just after six months of earning $229 million in its Series D investment. With this recently raised fund, the company joins the unicorn club with the valuation more than $1 billion.
Perfios is planning to continue its international expansion and strengthen its global footprint, it also wants to use this fund towards exploring inorganic growth opportunities. It also intends to invest in its tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce.
The company helps in collecting and analyzing financial data such as bank statements, tax data, and business financials to provide reports in the fields of credit assessment, monitoring, fraud detection, and banking data aggregation.
The company has developed a strong customer base with 100 significant clients in banking, NBFCs, digital lending platforms, mutual funds, insurance firms, and human resources. Currently, the company is operating in 16 countries and they are determined to empower 1000 financial institutions delivering 8.2 billion data points to banks and financial institutions each year to support faster decisioning, and handle 1.7 billion transactions per year with an AUM of $36 billion.
This B2B fintech company has lately declared the buyback of ESOPs worth Rs.154 crore which is roughly $18.5 million from its 135 current and past employees. The firm was profitable in FY23, after calculating income from operations increasing thrice to Rs. 407 crore in the fiscal year ending March 2023 from Rs.136 crore in FY22.
Perfios acquired finance firm Karza Technologies before FY23, and the Rs. 600 crore investment has paid off, as the latter alone generated Rs. 168 crore in revenue and Rs. 51 crore in profit after tax in the previous fiscal year. With this recent fundraising round, Perfios becomes the second unicorn of 2024 in the Indian startup landscape.
In the previous month, Bhavish Aggarwal’s artificial intelligence business, Krutrim SI Designs revealed that it had raised $50 million at a $1 billion value.
This Bengaluru based firm gained this fresh fund just after six months of earning $229 million in its Series D investment. With this recently raised fund, the company joins the unicorn club with the valuation more than $1 billion.
Perfios is planning to continue its international expansion and strengthen its global footprint, it also wants to use this fund towards exploring inorganic growth opportunities. It also intends to invest in its tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce.
The company helps in collecting and analyzing financial data such as bank statements, tax data, and business financials to provide reports in the fields of credit assessment, monitoring, fraud detection, and banking data aggregation.
The company has developed a strong customer base with 100 significant clients in banking, NBFCs, digital lending platforms, mutual funds, insurance firms, and human resources. Currently, the company is operating in 16 countries and they are determined to empower 1000 financial institutions delivering 8.2 billion data points to banks and financial institutions each year to support faster decisioning, and handle 1.7 billion transactions per year with an AUM of $36 billion.
This B2B fintech company has lately declared the buyback of ESOPs worth Rs.154 crore which is roughly $18.5 million from its 135 current and past employees. The firm was profitable in FY23, after calculating income from operations increasing thrice to Rs. 407 crore in the fiscal year ending March 2023 from Rs.136 crore in FY22.
Perfios acquired finance firm Karza Technologies before FY23, and the Rs. 600 crore investment has paid off, as the latter alone generated Rs. 168 crore in revenue and Rs. 51 crore in profit after tax in the previous fiscal year. With this recent fundraising round, Perfios becomes the second unicorn of 2024 in the Indian startup landscape.
In the previous month, Bhavish Aggarwal’s artificial intelligence business, Krutrim SI Designs revealed that it had raised $50 million at a $1 billion value.
