Perfios, described as “India’s leading B2B SaaS FinTech company”, has made headlines with its latest funding announcement. The Bangalore-headquartered firm revealed its Series D funding round today, successfully raising $229m, all thanks to Kedaara Capital, a prominent private equity investor.
Delving deeper into what Perfios does, this market leader is not only dominant in India but has also stamped its authority in the Middle East and Southeast Asia. Their offering is vast, providing a comprehensive stack of Decision Analytics SaaS products. These products play an integral role in streamlining the end-to-end customer journey across diverse sectors, from banking and insurance to embedded commerce.
What’s next for Perfios? The company’s ambitions are sky-high, with plans to utilise the newly-acquired funds in various ways. Their primary objective is to bolster global expansion efforts, particularly targeting North America and Europe. Additionally, they are keen to invest in cutting-edge technologies that would further refine their current product suite.
There’s more to the story. Perfios isn’t just about financial growth; they pride themselves on their business ethos. With frugality and efficiency as their guiding principles, the company boasts an impressive record, achieving 100% YoY growth in revenue. Their global footprint spans 18 geographies, and their continuous drive to enhance the customer experience remains evident in their commitment to developing sophisticated technologies.
Kedaara Capital’s Founder and Managing Partner, Nishant Sharma, voiced his enthusiasm regarding the deal with Perfios, “Led by one of the strongest teams in the space, Perfios has created truly the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitisation levels in the financial services sector in India and globally.
“Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market-leading position, and we are excited to partner with them.” Kartikeya Kaji, Managing Director at Kedaara Capital, echoed similar sentiments, adding, “We look forward to using our operational expertise and deep connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey.”
Sabyasachi Goswami, the CEO of Perfios, shared his perspective on the investment, “Since our inception in 2008, Perfios has consistently led the way as a category-creating leader in the SaaS space.
“This investment will 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. We are very happy to have Kedaara Capital as a new investor, and thankful to Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in us.”
It’s worth noting Perfios’ track record with investments. They’ve previously secured backing from esteemed investors like Bessemer Venture Partners in their 2017 Series A round and Warburg Pincus during the 2019 Series B round. Commenting on the new round of investment, Vishal Mahadevia, Managing Director & India Head at Warburg Pincus, praised Perfios for their unwavering commitment to revolutionising the financial services sector.
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