Perfios acquires fraud detection platform CustomerXPs

SaaS-based B2B fintech firm Perfios has acquired CustomerXPs, a fraud detection platform Clari5 for an undisclosed amount. 

With this acquisition, Clari5 will become a wholly owned subsidiary of Perfios, which currently has around 1,500 employees. The Clari5 leadership team will continue to operate as an independent entity within the group.

Clari5 provides range of solutions to banks which includes enterprise fraud management, anti-money laundering, customer looped alert management service, payment fraud reporting, customer due diligence, identity resolution, loan origination and monitoring.

Clari5 has raised around $3.9 million in equity funding since its inception in 2006. In FY24, Clari5 reported a net profit of Rs 3.4 crore with a revenue of Rs 76.5 crore.

Perfios helps financial institutions with revenue analysis, fraud detection, verification, and automated customer onboarding. It serves sectors like consumer lending, SME lending, and wealth management. The company operates in 18 countries and supports over 1,200 institutions.

Earlier in September 2023, Bengaluru-based fintech firm Perfios acquihired Chennai-based open finance platform Fego.ai. Perfios turned unicorn with a $80 million round in March last year. 

According to data intelligence platform, TheKredible, Perfios’ revenue from operations grew to Rs 557.8 crore in the last fiscal year (FY24) from Rs 407 crore in FY23. During the period, the company’s profit after tax (PAT) jumped 9.2X year-on-year to Rs 71.67 crore.