Another One Joins The Club – Perfios Raises $70M5 months ago Rituka M
Perfios, a fintech company raises $70 Million from existing investors Warburg Pincus and Bessemer India. This Bangalore-based company intends to utilize the funds towards the expansion of its operations. This includes capital expenditure, financing acquisitions, and working capital requirements.
With this round of investment, Warburg Pincus becomes the largest shareholder in Perfios with a 41.6% stake. Whereas, Bessemer holds 32.1%. Additionally, the two cofounders Debashish Chakraborty and VR Govindarajan hold 7.3% and 7.5%, respectively. Previously, Perfios raised $50M in funding from the same investors in November 2019.
Although the company has not revealed its valuation, the latest round values Perfios at $4.05 billion. Joining the Unicorn club, Perfios intends to raise an additional $40 million in debt funding this year.
Perfios – Bridging the gap between Data and Insights
Founded by Debasish Chakraborty and V R Govindarajan in 2008, Perfios is a product technology company that enables businesses and financial institutions with automation of customer onboarding, decision-making, risk pricing, and fulfillment. This is done by extracting, categorizing, and analyzing this data from multiple financial institutions. Consequently, this enables lenders to automate data-driven risk and pricing decisions. The company’s offerings also enable companies to build vertical applications across various domains.
Having started out as a cloud-hosted personal finance management solution, it acknowledges privacy and security and ensures their maintenance. With 4 audits a year, the data platform ensures the privacy and security of its customers. Scaling into a data platform, Perfios uses a combination of home-grown AI/ML algorithms to offer in-depth data analysis & customizable reports. `
Being cash and EBIDTA positive since 2018, the company claims to categorize over 500M transactions per month. Having established its presence in 18 countries, the company supports 735 institutions and has 1700 data formats. Over the years, Perfios has acquired large clients across various domains such as Banks, NBFCs, Digital Lending platforms, Mutual Fund Companies, Insurance companies, Human Resources.