Warburg Pincus and Bessemer Venture Partners invest Rs 520 crore to Perfios

According to regulatory records, financial software provider Perfios has raised Rs 520.8 crore (approximately $70 million) in a new funding round led by previous partners Warbug Pincus and Bessemer India.

Pear Valley Investment, a Warburg Pincus Asia affiliate, has invested Rs 409.22 crore (approximately $54.4 crore) in the firm, while Bessemer India has invested Rs 111.6 crore (about $14.8 million), according to the documents.

According to Perfios' regulatory filings, the funds will be used to fund the purchase of other firms, capital expenditures, and working capital requirements.
With a 41.6 percent interest in Perfios, Warburg continues to be one of the company's top shareholders.

Debshish Chakraborty and VR Govindarajan, the two cofounders, currently own 7.3 percent and 7.5 percent of the company, respectively, while long-time investor Bessemer owns 32.1 percent.

Perfios last raised money in November 2019, when Warburg Pincus and Bessemer Venture Partners invested $50 million in the company.

The Bengaluru-based firm provides financial institutions with a software technology platform that allows them to gather, consolidate, and analyse financial data in order to improve credit evaluation. By analysing financial data such as bank statements, taxes, and business financials, it also assists financial institutions in creating reports and monitoring fraud.

The company also requested board approval to raise Rs 300 crore (approximately $40 million) through the issuing of non-convertible debentures at an extraordinary general meeting on February 10.