B2B SaaS Fintech Perfios Gets a $229M Funding Boost, Sets Sight on North America & Europe
B2B SaaS fintech startup Perfios has raised $229 million in a Series D funding round from private equity investor Kedaara Capital.
Marking one of the largest investments in an Indian B2B SaaS company this year, the Bengaluru-headquartered unicorn has raised funds through the combination of a primary fundraise and a secondary sale.
As per the startup, the freshly raised funds will be used for fuelling its continued global expansion plans in North America and Europe.
It also plans to invest in new-age technologies to enhance its comprehensive stack of Decision Analytics SaaS products. This will solve the entire end-to-end customer journey across banking, insurance, and embedded commerce.
Perfios | Powering Financial Inclusion
Founded by VR Govindarajan, and Debasish Chakraborty, Perfios is a global B2B SaaS firm that extracts, categorizes, and analyzes thousands of data types in real-time, helping financial institutions make lending decisions in stringent privacy & compliance environments.
Speaking about the development, Sabyasachi Goswami, CEO at Perfios, stated that the team is happy to have Kedaara Capital as a new investor.
“This investment will help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe. We are very happy to have Kedaara Capital as a new investor and thankful to Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in us.”
The B2B SaaS fintech startup serves the banking, financial services, and insurance industry in 18 countries and empowers 1,000+ financial institutions. Perfios leverages the power of artificial intelligence and machine learning to automate data-driven risk and price-reducing decisions.
Statement from the Investors
Commenting on the development, Nishant Sharma, Founder and Managing Partner at Kedaara Capital,
“Led by one of the strongest teams in the space, Perfios has created truly the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally. Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market-leading position, and we are excited to partner with them.”
Kartikeya Kaji, Managing Director, Kedaara Capita, stated that the team looks forward to using its operational expertise and deep connectivity in the financial services and technology spaces to help support Perfios in this next phase of its growth journey.
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