Bengaluru-based Startup Perfios Software Solutions Eyes to Acquire Karza Technologies
Bengaluru-based fintech software startup, Perfios Software Solutions who is backed by Warburg Pincus and Bessemer, has announced that it would acquire Karza Technologies, a provider of banking and financial intelligence solutions, for around INR 600 crore.
Perfios collected roughly INR 520 crore from existing backers Warburg Pincus and Bessemer earlier this month. The funding will be used to partially support the acquisition of Karza Tech.
Through its excellent data engineering and deep tech applications, Mumbai-based Karza offers solutions that enable onboarding automation, systemic fraud protection, and business insight.
According to the regulatory filing, Warburg Pincus has a 41 per cent ownership interest in Perfios, while long-time investor Bessemer has a 32.1 percent holding. Perfios, founded in 2009 by V. R. Govindarajan and Debasish Chakraborty, is a credit decisioning and analytics firm that operates in both the B2B and B2C markets. It claims to be able to extract, categorise, and analyse thousands of kinds of data kinds in real time, hence improving the prudential quotient in loan choices.
V.R. Govindarajan, co-founder of Perfios, stated, "Karza’s deep focus in onboarding automation and fraud prevention through superior data engineering and deep tech application make them a unique player in the market. The combined entity with enormous synergies will develop plenty of innovative and disruptive solutions for the market. Customers now deal with a single trusted entity in the credit decisioning space."
Perfios additionally raised $100 million from existing investors Warburg Pincus and Bessemer Venture Partners, as well as some new investors. The funds will be used to continue to innovate and invest in best-in-class products in the credit decisioning, fraud, and analytics areas, and to expand into new geographies and risk areas, as well as to scale up world-class engineering and data science teams, and make strategic acquisitions and invest in business partnerships across the value chain.
Karza co-founder Gaurav Samdaria stated, "Together, we can be a very formidable entity that can add so much value to our customers. It is a great win-win situation for all stakeholders with our customers getting the benefit of the combined entity."
According to Preqin, a London-based industry tracker, technology investments have increased by more than thrice in 2021 compared to a year ago. According to the data, India's startup sector saw unprecedented investment of about $36 billion in 2021, compared to $11.2 billion in the same period a year before, as demand for digitalisation surged dramatically during the COVID-19 outbreak.
Perfios collected roughly INR 520 crore from existing backers Warburg Pincus and Bessemer earlier this month. The funding will be used to partially support the acquisition of Karza Tech.
Through its excellent data engineering and deep tech applications, Mumbai-based Karza offers solutions that enable onboarding automation, systemic fraud protection, and business insight.
According to the regulatory filing, Warburg Pincus has a 41 per cent ownership interest in Perfios, while long-time investor Bessemer has a 32.1 percent holding. Perfios, founded in 2009 by V. R. Govindarajan and Debasish Chakraborty, is a credit decisioning and analytics firm that operates in both the B2B and B2C markets. It claims to be able to extract, categorise, and analyse thousands of kinds of data kinds in real time, hence improving the prudential quotient in loan choices.
V.R. Govindarajan, co-founder of Perfios, stated, "Karza’s deep focus in onboarding automation and fraud prevention through superior data engineering and deep tech application make them a unique player in the market. The combined entity with enormous synergies will develop plenty of innovative and disruptive solutions for the market. Customers now deal with a single trusted entity in the credit decisioning space."
Perfios additionally raised $100 million from existing investors Warburg Pincus and Bessemer Venture Partners, as well as some new investors. The funds will be used to continue to innovate and invest in best-in-class products in the credit decisioning, fraud, and analytics areas, and to expand into new geographies and risk areas, as well as to scale up world-class engineering and data science teams, and make strategic acquisitions and invest in business partnerships across the value chain.
Karza co-founder Gaurav Samdaria stated, "Together, we can be a very formidable entity that can add so much value to our customers. It is a great win-win situation for all stakeholders with our customers getting the benefit of the combined entity."
According to Preqin, a London-based industry tracker, technology investments have increased by more than thrice in 2021 compared to a year ago. According to the data, India's startup sector saw unprecedented investment of about $36 billion in 2021, compared to $11.2 billion in the same period a year before, as demand for digitalisation surged dramatically during the COVID-19 outbreak.
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