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Perfios turns unicorn with $80 Mn funding from Teachers’ Venture Growth

EntrackrEntrackr · 1y ago
Perfios turns unicorn with $80 Mn funding from Teachers’ Venture Growth
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.

Exclusive: Perfios launches new ESOP plan worth $76 Mn

EntrackrEntrackr · 4m 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.

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