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News on Medial
Ontario Teachers mints new unicorn in Indian fintech Perfios
TechCrunch
·
1y ago
Medial
Ontario Teachers' Pension Plan's late-stage venture and growth investment arm, Teachers' Venture Growth, is investing $80 million in Perfios, an Indian fintech firm. Perfios provides real-time credit underwriting solutions to banks and other financial institutions. With this investment, Perfios is now valued at over $1 billion. The funds will be used for international expansion and exploring acquisition opportunities. Perfios aims to go public next year. The company helps banks assess the creditworthiness of potential borrowers, reducing the risk of defaults and improving portfolio quality. Ontario Teachers' Pension Plan has invested over $3 billion in India.
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Related News
Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise
Inshorts
·
1y ago
Medial
Fintech SaaS startup Perfios on Wednesday announced raising $80 million in funding from Teachers' Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. The funding takes Perfios' valuation above $1 billion, making it India's second unicorn in 2024. Perfios raised $229 million from Kedaara Capital in September 2023.
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Perfios Snags $80 mn from Ontario Teachers’ Pension arm
VCCircle
·
1y ago
Medial
Perfios Software Solutions, a fintech SaaS company, has announced an $80 million investment from Ontario Teachers’ Pension Plan's venture arm, Teachers' Venture Growth (TVG). The funds will be used to support Perfios' international expansion and explore inorganic growth opportunities. The company currently operates in Southeast Asia, the Middle East, and Africa. Perfios plans to strengthen its digital transformation journey, enhance its tech stack, and fuel the digital transformation of financial services companies in India and beyond. TVG's India director, Darius Vakil, will join Perfios' board as the nominee for Ontario Teachers' Pension Plan.
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SaaS fintech startup Perfios secures $80 million in funding from TVG
Economic Times
·
1y ago
Medial
Indian fintech startup Perfios has raised $80m in a funding round led by Teachers' Venture Growth, the growth investment firm of Ontario Teachers' Pension Plan. Perfios plans to use the funds to explore growth opportunities and expand internationally. The startup will invest in technology to improve customer experience across multiple sectors, including banking and insurance. Perfios is also reportedly considering an IPO in India that could raise around $500m at a valuation of $2bn, and aims to enter the US and European markets in 2024.
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Perfios turns unicorn with $80 Mn funding from Teachers’ Venture Growth
Entrackr
·
1y ago
Medial
SaaS-based B2B fintech firm Perfios has raised $80 million in a new round from Teachers’ Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan. The new round has come after six months of $229 million Series D round for the Bengaluru-based company. With this, the firm has also crossed the $1 billion valuation mark and entered the unicorn club. Perfios plans to continue its international expansion and strengthen its global footprint, while also utilising the funds towards exploring inorganic growth opportunities, the company said in a press release. It will also continue to invest in its tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce. Perfios helps in the aggregation and analysis of financial data such as bank statements, tax data, and business financials to generate reports across the areas of credit assessment, monitoring, fraud, and banking data aggregation. It has acquired more than 100 large clients across banks, NBFCs, digital lending platforms, mutual fund companies, insurance companies, and human resources. With a presence in 16 countries, Perfios claims to empower over 1,000 financial institutions, deliver 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and process 1.7 billion transactions a year with an AUM of $36 billion. B2B SaaS fintech company Perfios has announced a buyback of ESOPs worth Rs 154 crore (approximately $18.5 million) from its 135 current and former employees. With this, Perfios has joined a list of handful of growth-stage companies that have bought back employees’ stock this year. Soon after the previous fundraise, Perfios announced a buyback of ESOPs worth Rs 154 crore (approximately $18.5 million) from its 135 current and former employees. The firm also turned profitable in FY23 while its revenue from operations spiked three-fold to Rs 407 crore in the fiscal year ending March 2023 from Rs 136 crore in FY22. Ahead of FY23, Perfios acquired fintech startup Karza Technologies and the Rs 600 crore acquisition seems to have paid off as the latter alone booked Rs 168 crore in revenue and Rs 51 crore profit after tax in the last fiscal year. Perfios becomes the second unicorn of 2024 from the Indian startup ecosystem. Last month, Bhavish Aggarwal’s artificial intelligence startup Krutrim SI Designs announced that it raised $50 million at a valuation of $1 billion.
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Separating fact from fiction: how many unicorns does India really have?
VCCircle
·
1y ago
Medial
Perfios, an Indian startup offering SaaS solutions, recently became a unicorn after securing $80 million in funding from Teachers' Venture Growth. A unicorn is a company valued at $1 billion or more. This raises the question of how many unicorns India actually has. Stay tuned to separate fact from fiction.
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From Perfios To Nanonets- Indian Startups Raised $226 Mn This Week
Inc42
·
1y ago
Medial
Indian startups raised a total of $226.2 million across 18 deals in the second week of March, marking a 50% increase from the previous week. Fintech sector emerged as the most funded sector, with a total of $91.5 million raised across four deals. Perfios, a fintech SaaS startup, became a unicorn after securing $80 million in funding from Teachers’ Venture Growth. Seed funding also gained momentum, with startups securing $5.9 million. Venture Catalysts was the most active investor during the week.
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Perfios turns Unicorn with $80 million from Canadian pension
The Arc Web
·
1y ago
Medial
Indian software company Perfios has secured $80m in funding from Ontario Teachers' Pension Plan's venture growth arm. The deal values the 16-year-old firm at over $1bn, after it raised $240m from Kedaara Capital in 2022. Perfios plans to use the funds to expand into US and European markets, in addition to its existing presence in Southeast Asia and the Middle East. The company, which provides data analysis solutions for banks and financial institutions, reported revenues of INR4.07bn ($54m) and a net profit of INR80m in FY2022. They serve over 1,000 clients, processing 1.7 billion transactions with $36bn in assets under management.
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Bengaluru's Perfios becomes India's newest unicorn after raising $80 million
IndianStartupNews
·
1y ago
Medial
Bengaluru-based fintech SaaS startup Perfios has raised $80 million in a funding round led by Teachers’ Venture Growth, making the company a unicorn with a valuation of over $1 billion. The funds will be used for international expansion and technological advancements, with the aim of supporting end-to-end customer journeys across banking, insurance, and embedded commerce. Perfios is also considering inorganic growth opportunities and potentially planning a $500 million IPO on Indian bourses. The company offers software solutions to the banking, financial services, and insurance sectors, helping to streamline processes and provide data for faster decision-making.
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TVG-Backed Perfios Ropes In Former Infosys Executive Rajesh Kini As CFO
Inc42
·
11m ago
Medial
Perfios, a fintech SaaS startup, has hired Rajesh Kini as its new chief financial officer to support the company's growth. This move comes shortly after Perfios achieved unicorn status by raising $80 million in funding earlier this year. Kini, a former CFO at Infosys, will be responsible for managing Perfios' financial operations and governance.
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Unicorn Club Of 2024: 6 Startups Crossed $1 Bn Valuation Mark
Inc42
·
7m ago
Medial
India's unicorn count has reached 118 with the addition of six new startups in 2024. These startups, including Perfios and RateGain, have collectively raised over $100 billion in funding. MoneyView was the only fintech company to join the unicorn club this year. The majority of the new unicorns are based in Bengaluru, the country's leading startup hub.
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