B2B SaaS Startup Perfios Raises USD 80 Mn from Teachers' Venture Growth The Bengaluru-based startup will deploy the funds to explore inorganic growth opportunities and in its tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce.
By Entrepreneur Staff •
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B2B SaaS fintech startup Perfios announced the raising of USD 80 million funding from Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan.
In September last year, It received USD 229 million in its Series D round led by private equity investor Kedaara Capital through a combination of primary and secondary sale.
According to the official release, the business intends to explore inorganic growth opportunities while strengthening its worldwide presence and pursuing further international expansion. Additionally, it will keep making investments in their comprehensive tech stack to support the end-to-end client journey across banking, insurance, and embedded commerce.
Sabyasachi Goswami, CEO, Perfios, said, "Our business has been seeing steady growth year-on-year, with consistent improvement in the bottom line. This investment will further 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."
Founded in 2008, Perfios is a global B2B SaaS company serving the banking, financial services and insurance industry in 18 countries, empowering more than 1000 financial institutions.
It claims to deliver 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and processes 1.7 billion transactions a year with an AUM of USD 36 billion.
Kelvin Yu, Senior Managing Director and Head of Teachers' Venture Growth in Asia, said, "We are excited about the growing opportunities within the B2B enterprise tech space in India, and we believe Perfios is a best-in-class fintech-focused SaaS player. Perfios continues to invest behind its market-leading tech stack, adding new use cases that enable the company to be the trusted partner of choice to leading financial institutions globally."
