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Perfios targets diverse sectors, geographies to double revenue

LivemintLivemint · 1y ago
Perfios targets diverse sectors, geographies to double revenue
Medial

Indian SaaS fintech startup, Perfios, plans to expand into new sectors, such as human resources technology and commerce, in a bid to double its revenue over the next three years. Perfios, which primarily serves the banking, financial services, and insurance sectors, aims to diversify its client base across multiple industries and geographies. The company has recently launched a product for background verification in the HR space and plans to target clients in the commerce sector next. Perfios became a unicorn earlier this year, following an investment of $80 million. It plans to expand into the US and Europe, while strengthening its presence in markets such as West Asia, Africa, and Southeast Asia. Perfios posted operating income of ₹407 crore in FY23, with a profit of ₹7.8 crore. The company is open to acquisitions and is evaluating international opportunities. It is also focusing on financial discipline and governance before potentially listing on the public markets.

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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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