Perfios Raises $229 Million To Expand Real-time Credit Underwriting Solutions


Perfios, the Indian fintech company that specializes in providing real-time credit underwriting solutions to banks and non-banking financial institutions, has successfully raised $229 million in its latest funding round. The funding will be instrumental in facilitating the company’s expansion plans in North America and Europe.

Key Takeaway

Perfios, a leading player in the SaaS space, has secured $229 million in funding to fuel its global expansion and strengthen its position as a market leader in India and key regions.

Series D Funding Led by Kedaara Capital

Leading the Series D funding round is Kedaara Capital, an Indian private equity firm. The funding round includes some secondary sales, although the exact amount has not been disclosed. Perfios, based in Bengaluru, has accumulated a total of $384 million from both primary and secondary transactions to date.

Preparing for IPO

The participation of private equity firms in this funding round indicates that Perfios may be gearing up for its initial public offering (IPO). Generally, private equity firms get involved with startups, particularly in the Asian market, two to three years before their IPO. Perfios has revealed its intentions to go public within the next 18 to 24 months.

Revolutionizing Credit Decision-Making

Perfios offers a comprehensive suite of services that enable businesses to streamline loan decisions, gain insights into a customer’s creditworthiness, and aggregate data through APIs. Leveraging artificial intelligence (AI) and machine learning (ML) techniques, Perfios’ platform is capable of adapting and learning on its own, enabling it to forecast trends in emerging markets. The platform’s AI-driven scoring system provides overall credit scores, detailed breakdowns, and features to efficiently evaluate credit risk.

Global Market Leader

With a strong foothold in India, the Middle East, and Southeast Asia, Perfios claims to be the market leader in its home country. The company’s exceptional growth and increasing digitization levels in the financial services sector have positioned it as a top-tier fintech SaaS business.

Sabyasachi Goswami, CEO of Perfios expressed his gratitude and excitement, stating, “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.”

Nishant Sharma, founder and managing partner at Kedaara Capital, also expressed his confidence in Perfios, noting, “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.”

Perfios’ successful funding round comes at a time when many startups worldwide are facing challenges in raising new capital due to cautious investor sentiment in the public markets.

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