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B2B SaaS company Perfios has acquired Credit Nirvana, an AI-powered platform for debt management and collections, to improve its financial services technology.
The company did not reveal the financial details of the deal.
This is Perfios' second acquisition in a month, after buying Clari5, a platform for managing financial crimes in banking, in February. The acquisition helps Perfios improve its risk intelligence and fraud prevention.
After the deal, Credit Nirvana will become a fully owned subsidiary of Perfios, and its team of about 100 employees will continue working independently.
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"This acquisition is a strategic step in expanding our product suite and strengthening our capabilities in debt management and collections. By integrating CreditNirvana’s AI-driven capabilities with our existing solutions, we aim to unlock new efficiencies," said, Sabyasachi Goswami, CEO of Perfios.
"This partnership enables us to enter new markets, offer more sophisticated AI-driven solutions, and set new benchmarks in data-driven debt management and recovery," said Raj MKK, Founder and CEO, CreditNirvana.
About Credit Nirvana
Credit Nirvana, founded in 2019, uses AI and predictive analytics to automate the entire debt collection process, from early delinquencies to legal recoveries. The platform manages over $9 billion in collections and handles more than 42 million loan accounts for banks, NBFCs, and asset reconstruction firms.
About Perfios
Founded in 2008, Perfios offers software that helps lenders assess customers and businesses by digitally analyzing bank statements, payslips, and passbooks. The company was last valued at $2.5 billion and has raised $450 million from investors like Warburg Pincus, Kedaara Capital, and Bessemer Venture Partners.
Perfios works with over 1,000 financial institutions in 18 countries and processes more than 8.2 billion data points each year to help with credit decisions and financial services.
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