Perfios raises $229 Mn in Series D led by Kedaara Capital

SaaS-based B2B fintech firm Perfios has raised $229 million in its Series D round led by private equity investor Kedaara Capital through a combination of primary and secondary sale.

This marks one of the largest investments in an Indian B2B SaaS company this year. The Bengaluru-based company raised around $70 million in its Series C round from existing investors Warburg Pincus and Bessemer India at a valuation of $400 million. The company, which has raised around $360 million to date, declined to comment on its current valuation.

With a current footprint in 18 geographies, Perfios plans to deploy the funds in fueling its global expansion plans in North America and Europe. As per the company, it also plans to invest in new-age technologies to enhance its comprehensive stack of decision analytics SaaS products.

Founded in 2008, Perfios helps in the aggregation and analysis of financial data such as bank statements, tax data, and business financials to generate reports across the areas of credit assessment, monitoring, fraud, and banking data aggregation.

The company has acquired more than 100 large clients across various domains such as banks, NBFCs, digital lending platforms, mutual fund companies, insurance companies, human resources in India and abroad.

Perfios claims to deliver 8.2 billion data points to banks and financial institutions every year to facilitate faster decisions, and processes 1.7 billion transactions a year with an AUM of $36 billion.

While the company is yet to file its annual financial statement for FY23, the firm claims to have achieved revenue targets of 100% YoY growth. As per TheKredible, Perfios’ operating revenue grew 88.1% to Rs 136.4 crore in FY22 while its losses contracted 62.1% to Rs 12.36 crore in the fiscal year.