B2B SaaS fintech Perfios Creates 62 Millionaires with ESOP Buyback Worth Rs 154 Crore
- ByStartupStory | October 18, 2023
B2B SaaS fintech company, Perfios, recently conducted an ESOP (employee stock ownership plan) buyback, returning equity shares worth a staggering Rs 154 crore to 135 of its dedicated team members. The result? Sixty-two individuals now proudly hold the title of millionaires. What’s even more notable is that 80 of the beneficiaries are women, making this achievement a powerful testament to gender inclusivity and wealth distribution.
The CEO of Perfios, Sabyasachi Goswami, expressed his delight, saying, “It’s truly gratifying to see the Perfios Millionaire Club grow and thrive along with the company’s growth. The buyback reaffirms our dedication to fostering a work environment where everyone can excel.”
Perfios ensured that the opportunity for financial growth extended across various departments and socio-economic backgrounds. The Perfios Millionaire Club now encompasses a diverse group of 135 employees, including both current and former team members.
Among those who benefited the most are some of the longest-serving employees, representing both core and non-core functions like administrative and data processing. These loyal team members have seen their earnings increase an impressive 30-fold, signifying the substantial impact of the ESOP buyback.
V R Govindarajan, Co-Founder & Chairman of Perfios, emphasized the company’s longstanding commitment to wealth creation and distribution, stating, “Our goal has always been to create wealth and share wealth, and we firmly stand by it. This isn’t a new concept for us; it’s a practice we’ve embraced for years.”
Perfios has cultivated a culture of entrepreneurial thinking through various programs, including hackathons and ideathons. The company is steadfast in its goal to double its revenue growth by the end of the current fiscal year. This ambition is driven by its initiatives to strengthen its presence in the Middle East and North Africa (MENA) and Southeast Asia (SEA) regions, while simultaneously expanding into the North American and European markets.
To achieve these ambitious expansion plans and bolster its decision analytics SaaS products, Perfios recently secured $229 million in funding from Kedaara Capital. This significant investment will be used to explore new-age technologies and enhance its product offerings.
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Founded in 2008, Perfios is headquartered in Bengaluru and has a global presence with offices worldwide. It offers a diverse portfolio of over 75 products and platforms, along with more than 500 APIs. Perfios serves a wide range of sectors, including banking, financial services, and insurance, across 18 countries and in partnership with over 1,000 financial institutions. The company’s software platforms and products play a crucial role in streamlining onboarding, decision-making, underwriting, and monitoring processes at scale.
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