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Perfios raises $229 mn from Kedaara Capital, to expand global footprint

IANS | September 11, 2023 11:11 AM

NEW DELHI: Global B2B software-as-a-service (SaaS) company Perfios on Monday announced to raise $229 million in its Series D funding from leading private equity investor Kedaara Capital.

The fundraise, through the combination of a primary fund raise and a secondary sale, is one of the largest investments in an Indian B2B SaaS company this year.

Perfios, a market leader in India with a strong footprint in the Middle East and Southeast Asia, said it plans to deploy the funds in fuelling its continued global expansion plans in North America and Europe.

The company also plans to invest in new-age technologies to enhance its comprehensive stack of Decision Analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance and embedded commerce.

“Led by one of the strongest teams in the space, Perfios has created truly the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally, ” said Nishant Sharma, Founder and Managing Partner, Kedaara Capital.

Perfios has displayed strong financial standing by achieving revenue targets of 100 per cent YoY growth and constantly improving its bottomline.

With a current footprint in 18 geographies, Perfios continues to expand their business in global markets.

“This investment will 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, ” said Sabyasachi Goswami, CEO, Perfios.

“This funding underscores not just our achievements and the tireless dedication of our employees, but also our commitment to employee wealth creation through ESOPs, ” added VR Govindarajan, Co-Founder and Chairman, Perfios.

With Bessemer Venture Partners joining in 2017 during the Series A round and Warburg Pincus in 2019's Series B, Perfios has garnered significant backing from leading investors over the years.

Founded in 2008, Perfios is serving the banking, financial services and insurance industry in 18 countries, empowering more than 1, 000 financial institutions.

Perfios delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and processes 1.7 billion transactions a year with an AUM of $36 billion.

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