[Funding alert] SaaS startup Perfios Secures $229 mn Funding from Kedaara Capital

A B2B SaaS fintech business called Perfios recently received a USD 229 million Series D fundraising round from Kedaara Capital.

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Combining an initial fund raiser with a secondary sale will provide the funding. One of the biggest investments made in an Indian B2B SaaS startup this year is this one.

In the Middle East and Southeast Asia, Perfios has a significant presence. It intends to use the money to support its ongoing worldwide expansion objectives in North America and Europe, according to a statement. In order to improve its comprehensive suite of Decision Analytics SaaS products and address the entire end-to-end customer journey spanning banking, insurance, and embedded commerce, the company also wants to invest in cutting-edge technologies.

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On signing the definitive agreement with Perfios, Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said, “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. Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market leading position, and we are excited to partner with them.” Kartikeya Kaji, Managing Director, Kedaara Capital further added, “We look forward to using our operational expertise and deep connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey.”

Perfios continues to grow its business in international markets and currently has a presence in 18 different geographical areas.Perfios has received substantial support from these prestigious investors throughout the years, including Bessemer Venture Partners' participation in the Series A financing in 2017 and Warburg Pincus' participation in the Series B round in 2019.

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On the new round of investment, Vishal Mahadevia, Managing Director & India Head, Warburg Pincus, said "Having been a part of Perfios' journey from its early stages, we continue to be impressed by the Company’s relentless drive, customer-centricity and innovation. Their commitment to revolutionizing the financial services sector has been unwavering, and this new round of funding further solidifies our belief in their vision. As Perfios continues to redefine the industry, we're proud to reaffirm our support and look forward to the company scaling even greater heights in the future."

About Perfios

The largest SaaS-based B2B fintech business in India, Perfios Software Solutions, enables 800+ FIs to make educated decisions in real time. Perfios, which has its headquarters in Bangalore, India, focuses on real-time credit decisions, analytics, automated onboarding, due diligence, monitoring, and other areas. In order to meet the strict Scale Performance, Security, and other SLA criteria of the BFSI industry, Perfios' core data platform was created to aggregate, analyze, and provide vertical solutions using consented and public data.

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