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Exclusive: Perfios launches new ESOP plan worth $76 Mn

EntrackrEntrackr · 5m ago
Exclusive: Perfios launches new ESOP plan worth $76 Mn
Medial

Exclusive: Perfios launches new ESOP plan worth $76 Mn The board of Perfios has passed a resolution approving the Perfios ESOP Plan 2025, which will consist of 2,05,764 employee stock options, as per regulatory filings accessed from the Registrar of Companies. SaaS-based B2B fintech firm Perfios has introduced a new employee stock option plan named “Perfios Employee Stock Option Plan 2025-A.” The board of Perfios has passed a resolution approving the Perfios ESOP Plan 2025, which will consist of 2,05,764 employee stock options, as per regulatory filings accessed from the Registrar of Companies. Each ESOP option will be converted into equity shares and will have a total vesting period of four years. According to Fintrackr’s estimates, the newly added ESOP plan is valued at approximately Rs 645 crore (around $76 million). According to startup data intelligence platform TheKredible, Perfios has raised a total of Rs 3,644 crore across multiple funding rounds, including Rs 662 crore ($80 million) from Kedaara Capital in March 2024. This investment pushed Perfios’ valuation beyond $1 billion, making it India’s second unicorn of 2024. The company acquired fraud detection platform CustomerXPS this month in an undisclosed deal and had previously acquired fintech startup Karza Technologies for Rs 600 crore in March 2022. Perfios provides revenue analysis, fraud checks, verification, and automated customer onboarding services to financial institutions in various verticals, including consumer lending, SME lending, and wealth management. The company claims to have a presence in 18 countries and to have powered over 1,200 institutions with its offerings. Perfios has demonstrated strong financial growth, with revenue rising 37% year-on-year to Rs 558 crore in FY24 from Rs 407 crore in FY23. Additionally, the company’s profits surged 9.2X to Rs 72 crore in FY24.

Fintech startup BharatX acquires Zenifi

EntrackrEntrackr · 1y ago
Fintech startup BharatX acquires Zenifi
Medial

Y-Combinator-backed BNPL fintech startup BharatX has acquired Zenifi, a healthcare finance startup providing zero-cost and low-cost EMI solutions. As part of the deal, Padam Kataria, the co-founder CEO, Zenifi will join BharatX as the head of business – healthcare. Founded in 2023 by Padam Kataria, Harshit Shrivastava, and Rajendra Kulkarni, Zenifi provides zero cost and low cost EMI’s to improve conversion rates for healthcare providers. It has tied up with multiple hospitals and aggregators, generating an annual rate of demand worth over Rs. 1.2 crore. After being a part of BharatX, Zenifi team can use the pre-existing lending platform and realise better economics. And this acquisition will allow BharatX to break into the healthcare sector. With the acquisition, BharatX will be entering the medical lending segment. BharatX enables financing options for over 125 brands in white-labled manner. In the past five quarters, it claims to have grown 33X and have raised more than $4.7 million till date. The startup also claims to have disbursed credit to more than 200,000 users till now. BharatX recently announced partnerships with Cashfree, a payment gateway, alongside existing partnerships with brands such as Flo mattress, Snitch, and Mokobara.

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