Indian fintech Perfios secures $229m in Series D funding round
Indian B2B Software-as-a-Service (SaaS) fintech firm Perfios has secured $229 million in funding from Kedaara Capital as part of its Series D round.
Perfios’ existing backers Warburg Pincus and Bessemer Venture Partners also took part in the round.
Founded in 2008 and based in Bengaluru, Perfios offers financial institutions solutions including origination, onboarding, decisioning, underwriting and monitoring processes, claiming to deliver 8.2 billion data points to over 1,000 banks and financial institutions across 18+ countries, and processing 1.7 billion transactions per year with $36 billion in assets under management.
With the funding, which is a combination of a primary fundraise and a secondary sale, Perfios plans to expand its operations globally by building a presence in North America and Europe, alongside its existing markets of Middle East and Southeast Asia.
Additionally, the company also plans to invest in its technology stack and improve its decision analytics SaaS offerings that will help it to enhance customer experience and “reduce complexities”.
Sabyasachi Goswami, CEO of Perfios, says: “This investment will help us in strengthening the digital transformational journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe.”