Perfios a fintech startup turns unicorn, raises about $68M from Bessemer Venture Partners, Warburg Pincus
- ByStartupStory | March 8, 2022
On Monday, Perfios Software Solutions, headquartered in Bengaluru, according to documents filed with the Registrar of Companies (RoC) said that it raised around $68 million (Rs 525 crore according to current exchange rates) from returning investors Bessemer Venture Partners and Warburg Pincus as part of its ongoing Series C round.
A report states that, Perfios is catapulting it to the coveted unicorn club as it has nearly $4.05 billion valuation after this round. A document also shows that the startup is in the process of acquiring nearly $78 million (Rs 597 crore) by Software-as-a-Service (SaaS) platform for financial institutions, Karza Technologies. Besides an additional investment of $5.25 million by Perfios to fund the expansion of the business, it will also utilise about $72 million to buy out the shares of nearly 34 early investors in Karz.
Karza Technologies was founded in 2015 by Gaurav Samdaria and Omkar Shirhatti, it provides automation, onboarding, due diligence, monitoring, and skip tracing solutions to financial institutions. After it acquired Noida-based digital lending management software provider FintTech Labs in 2019 Karza Technologies has been the second acquisition by Perfios. In 2019, in a mixture of primary and secondary transactions from Bessemer and Warburg Pincus, Perfios raised about $50 million in a Series B round. Perfios was founded by the former founders of Aztecsoft, VR Govindarajan and Debasish Chakroborty in the year 2008. It started as a business-to-consumer personal finance management solution.
In 2012, the company on its platform based on data analysis of bank statements, tax filings, and business financials for credit assessment, monitoring, fraud, and other services, pivoted to offer banks and NBFCs insights. Financial institutions are helped by Perfios’s digital solution in order to reduce turnaround time and improve their credit decisions.
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