Fintech unicorn Perfios raises $229M from Kedaara Capital

Perfios said it plans to deploy the funds in fuelling its continued global expansion plans in North America and Europe.

Fintech unicorn Perfios raises $229M from Kedaara Capital

Monday September 11, 2023,

2 min Read

Perfios, a B2B SaaS fintech startup, has raised $229 million in Series D funding round from private equity investor Kedaara Capital through the combination of a primary fundraise and a secondary sale. This marks one of the largest investments in an Indian B2B SaaS company this year.

According to a statement by the company, Perfios plans to deploy the funds in fuelling its continued global expansion plans in North America and Europe. The Bengaluru-headquartered unicorn also plans to invest in new-age technologies to enhance its comprehensive stack of Decision Analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance, and embedded commerce.

Founded in 2008 by former founders of Aztecsoft, VR Govindarajan, and Debasish Chakroborty, Perfios is a global B2B SaaS company serving the banking, financial services, and insurance industry in 18 countries and empowering 1,000+ financial institutions. 

"Since our inception in 2008, Perfios has consistently led the way as a category-creating leader in the SaaS space. I am filled with immense gratitude and excitement to have led this journey with our 1,000+ trusted partners. 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,” said Sabyasachi Goswami, CEO, Perfios.

“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 digitisation 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,” said Nishant Sharma, Founder and Managing Partner, Kedaara Capital. 

“We look forward to using our operational expertise and deep connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey,” added Kartikeya Kaji, Managing Director, Kedaara Capital.