Perfios, a B2B Fintech SaaS company has successfully raised $229 million in its Series D funding round. This substantial investment comes from Kedaara Capital, a private equity firm. The funding involves both primary fundraising and a secondary sale of shares. Perfios has ambitious plans for these funds, aiming to use them to expand its presence in North America and Europe.
Sabyasachi Goswami, the co-founder and CEO of Perfios, expressed the significance of this investment by stating that it will play a pivotal role in bolstering their partners’ digital transformation journey. In doing so, it will contribute to financial inclusion by granting access to financial services for billions of people worldwide.
Moreover, Perfios intends to allocate some of the funds toward the development of cutting-edge technologies, enhancing its suite of Decision Analytics SaaS products.
Established in 2008 by V.R. Govindarajan and Sabyasachi Goswami, Perfios operates as a B2B SaaS company, serving the Banking, Financial Services, and Insurance sectors across 18 countries. Following its acquisition of Karza Technologies in March 2022, the combined entity has emerged as a leading force in the industry.
Perfios boasts an impressive track record, delivering a staggering 8.2 billion data points annually to banks and financial institutions, streamlining decision-making processes. Additionally, the company processes 1.7 billion transactions each year, with assets under management totaling $36 billion.
This funding achievement comes at a time when investors are adopting a cautious approach to deploying their capital. Notably, investment in Indian startups has declined significantly, with a drop of about 80% during the first five months of 2023 compared to the same period in the previous year.