SUMMARY
- Perfios, a SaaS fintech firm, plans U.S. expansion after raising $80M and achieving unicorn status.
- The company serves over 1,000 financial institutions globally, providing 8.2B data points annually.
- Perfios reported ₹7.8 Cr profit in FY23, driven by strong growth in its India business.
Perfios, a fintech software as a service (Saas) firm that achieved unicorn status earlier this year after raising $80 million (₹663 crore) from Teachers’ Venture Growth, is reportedly in talks to enter the United States market as part of its expansion strategy to spur growth.
Perfios is a Business-to-Business (B2B) and Business-to-Consumer (B2C) credit decision-making and analytics firm that was founded in 2008 by VR Govindarajan and Debasish Chakraborty. According to the company, it is currently working with over 1,000 financial institutions and is present in countries like Malaysia, Singapore, Indonesia, Philippines, Vietnam, Thailand, Hongkong, UAE, Saudi Arabia, Kenya, South Africa, Slovakia, Czech Republic, Ireland, Egypt and Bangladesh. To speed up decision-making, the company says it provides 8.2 billion data points to banks and other financial institutions annually.
With a $229 million investment from Kedaara Capital through a mix of a primary and secondary sale, the fintech firm in September of last year achieved the largest fundraising to date.
In the fiscal year 2022–23 (FY23), the startup made a profit after two months, with a consolidated net profit of ₹7.8 crore. This was mostly attributed to a notable increase in service income, which was driven by the robust success of the company’s India business.
