Bengaluru-based Fintech Startup Perfios Garners $70 million from Warburg Pincus & Others
Perfios, a Bengaluru-based fintech incubator, has garnered close to $70 million in a fundraising round led by Warburg Pincus and Bessemer Venture Partners.
The business is raising a new round, which appears to be its Series C round, at a valuation of $2 billion or more.
The firm resolved to allocate a total of 4,16,336 Series C CCPS to Warburg Pincus and Bessemer India Holdings during an extraordinary general meeting held on February 10, 2022.
Nearly $55 million is being injected by Warburg Pincus, with the remainder being infused by Bessemer.
In the coming year, the company hopes to obtain $40 million in debt investment.
The new financing comes roughly 27 months after it secured $50 million from Warburg Pincus and Bessemer Venture Partners in a Series B transaction. Several investors were said to have exited the firm at the time.
Perfios is a credit decisioning and analytics firm that operates in both the B2B and B2C segments, and was founded in 2009 by V R Govindarajan and Debasish Chakraborty. The business promises to be able to extract, categorise, and analyse hundreds of data kinds in real time, assisting financial institutions in making informed loan choices.
It promises to categorise over 500 million transactions every month, examine 1,700 data types, and be backed by 735 institutions.
Karza Technologies Private Limited was recently purchased by the startup for approximately $80 million.
The company claims to have offices in 18 countries, including South Africa, Ireland, the Czech Republic, the United Arab Emirates, Bangladesh, and Indonesia.
In the fiscal year that ended on March 31, 2021, Perfios generated INR 72.5 crore in sales on its own. Its income from sales has decreased from the previous financial year, when it reported INR 74 Cr from sales in FY20.
Perfios' overall sales in FY21 were INR 74.5 crore, down from INR 77.5 crore in FY20.
However, the startup's costs grew to INR 107.4 Cr in FY21 from INR 104 Cr in FY20 due to insufficient income.
While the startup's employee benefit expenditure decreased from INR 70.5 Cr in FY20 to INR 60 Cr in FY21, its other expenses increased to INR 43.5 Cr.
The loss after tax for the company in FY21 was INR 33 crore, up from INR 26.8 crore in FY20.
The business is raising a new round, which appears to be its Series C round, at a valuation of $2 billion or more.
The firm resolved to allocate a total of 4,16,336 Series C CCPS to Warburg Pincus and Bessemer India Holdings during an extraordinary general meeting held on February 10, 2022.
Nearly $55 million is being injected by Warburg Pincus, with the remainder being infused by Bessemer.
In the coming year, the company hopes to obtain $40 million in debt investment.
The new financing comes roughly 27 months after it secured $50 million from Warburg Pincus and Bessemer Venture Partners in a Series B transaction. Several investors were said to have exited the firm at the time.
Perfios is a credit decisioning and analytics firm that operates in both the B2B and B2C segments, and was founded in 2009 by V R Govindarajan and Debasish Chakraborty. The business promises to be able to extract, categorise, and analyse hundreds of data kinds in real time, assisting financial institutions in making informed loan choices.
It promises to categorise over 500 million transactions every month, examine 1,700 data types, and be backed by 735 institutions.
Karza Technologies Private Limited was recently purchased by the startup for approximately $80 million.
The company claims to have offices in 18 countries, including South Africa, Ireland, the Czech Republic, the United Arab Emirates, Bangladesh, and Indonesia.
In the fiscal year that ended on March 31, 2021, Perfios generated INR 72.5 crore in sales on its own. Its income from sales has decreased from the previous financial year, when it reported INR 74 Cr from sales in FY20.
Perfios' overall sales in FY21 were INR 74.5 crore, down from INR 77.5 crore in FY20.
However, the startup's costs grew to INR 107.4 Cr in FY21 from INR 104 Cr in FY20 due to insufficient income.
While the startup's employee benefit expenditure decreased from INR 70.5 Cr in FY20 to INR 60 Cr in FY21, its other expenses increased to INR 43.5 Cr.
The loss after tax for the company in FY21 was INR 33 crore, up from INR 26.8 crore in FY20.
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