Funding Alert

Perfios Secures US$80 Million Funding from Teachers’ Venture Growth

• ByStartupStory     |    March 13, 2024

Perfios, a leading B2B SaaS fintech company based in India, proudly announces an investment of US$80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan. This significant funding will fuel Perfios’ ongoing international expansion and strengthen its position in key markets across South-East Asia, the Middle East, and Africa.

Perfios, with a stronghold in the Indian market and a growing global presence, plans to utilize the funds not only for international growth but also to explore inorganic growth opportunities. The company remains committed to enhancing its comprehensive tech stack, empowering end-to-end customer journeys in banking, insurance, and embedded commerce.

The investment from TVG reflects Perfios’ robust global growth prospects and its pivotal role in the broader digitization of financial services in India. Aligning seamlessly with TVG’s strategy, Perfios is recognized for its visionary management team, strong growth potential, and a compelling value proposition.

Deepak Dara, Senior Managing Director and Head of India at Ontario Teachers’, expressed excitement about the partnership, stating, “Our investment in Perfios is in line with our strategy of backing seasoned and visionary management teams in businesses with strong growth potential and a clear competitive edge.”

Kelvin Yu, Senior Managing Director and Head of Teachers’ Venture Growth in Asia, emphasized Perfios’ position as a best-in-class fintech-focused SaaS player, saying, “We are excited to be a value-added partner to Perfios’ global ambitions.”

Sabyasachi Goswami, CEO of Perfios, commented on the development, saying, “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.”

As part of the investment, Darius Vakil, Director, TVG, India, is set to join the board of Perfios as the nominee of Ontario Teachers’ Pension Plan. Perfios has garnered substantial backing from reputable investors over the years, including Bessemer Venture Partners, Warburg Pincus, and Kedaara Capital.

Founded in 2008, Perfios serves the Banking, Financial Services, and Insurance industry in 18 countries, empowering over 1000 financial institutions globally. The company processes 8.2 billion data points and 1.7 billion transactions annually, with an AUM of $36 billion, accelerating access to credit and financial services. With headquarters in Bangalore and offices worldwide, Perfios boasts a robust start-to-end tech platform with 75+ products and platforms and over 500+ APIs.

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