Perfios raises $80M from Teachers’ Venture Growth
B2B fintech SaaS company Perfios will utilise the capital to expand its international presence and fund inorganic growth.
Bengaluru-headquartered Business-to-Business (B2B) SaaS fintech company raised $80 million in a Series D1 funding round from (TVG)—the venture and growth investment arm of . The company has crossed $1 billion in valuation with the current infusion.
Perfios said it will use the capital for international expansion to Southeast Asia and Middle East and Africa, utilising part of the capital for inorganic growth. It will also invest in developing its tech stack to power end-to-end customer journeys in banking, insurance, and embedded finance.
With this, Perfios has raised a total equity funding of $464 million across multiple rounds, according to data and market research platform Tracxn. It had last raised $229 million in a Series D funding round led by Kedaara Capital in September 2023 at a post-money valuation of $901 million.
“This investment will further 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. I am glad to have TVG as a new investor in our Perfios family,” said Sabyasachi Goswami, CEO of Perfios, in a statement.
Founded in 2008 by Debasish Chakraborty and VR Govindarajan, Perfios offers software platforms and products to financial institutions for origination, onboarding, decision, underwriting and monitoring processes at scale and speed. The company claims its suite of digital transformation offerings includes over 75 products and platforms and more than 500 APIs.
“We are excited about the growing opportunities within the B2B enterprise tech space in India, and we believe Perfios is a best-in-class fintech-focused SaaS player. Perfios continues to invest behind its market-leading tech stack, adding new use cases that enable the company to be the trusted partner of choice to leading financial institutions globally,” said Kelvin Yu, Senior Managing Director and Head of Teachers’ Venture Growth in Asia.
During an interview with YourStory earlier this month, Perfios CEO Goswami said the company also plans on going public in the next year and a half.
(The story was updated to reflect additional information.)
Edited by Suman Singh