Perfios Secures $70 Million in Funding to Accelerate Growth
Perfios, a leading fintech company based in Bangalore, has successfully raised $70 million from its existing investors, Warburg Pincus and Bessemer India. The funds will be directed towards expanding operations, covering capital expenditure, financing acquisitions, and meeting working capital needs.
With this investment, Warburg Pincus now holds a significant 41.6% stake in Perfios, making it the largest shareholder. Bessemer India owns 32.1% of the company, while co-founders Debashish Chakraborty and V.R. Govindarajan retain stakes of 7.3% and 7.5%, respectively. This follows a previous funding round in November 2019, where Perfios raised $50 million from the same investors.
Although Perfios has not disclosed its exact valuation, this latest funding round values the company at $4.05 billion, officially placing it in the Unicorn club. The company plans to seek an additional $40 million in debt funding later this year.
Perfios: Bridging Data and Insights
Founded in 2008 by Debashish Chakraborty and V.R. Govindarajan, Perfios specializes in automating customer onboarding, decision-making, risk pricing, and fulfillment for businesses and financial institutions. The company excels in extracting, categorizing, and analyzing data from multiple financial sources, allowing lenders to make automated, data-driven decisions.
Originally launched as a cloud-hosted personal finance management solution, Perfios has evolved into a comprehensive data platform known for its privacy and security measures, undergoing four audits annually. Leveraging advanced AI/ML algorithms, Perfios provides in-depth data analysis and customizable reports.
Global Presence
Profitable and EBITDA positive since 2018, Perfios processes over 500 million transactions monthly. With operations in 18 countries, it supports 735 institutions and manages 1,700 data formats. The company has secured major clients across various sectors, including banks, non-banking financial companies (NBFCs), digital lending platforms, mutual fund companies, insurance firms, and human resources.