CreditNirvana is a debt management and collections platform that was purchased by Perfios, a SaaS-based B2B fintech company.
To improve its risk intelligence and fraud mitigation capabilities, Perfios purchased the banking financial crime management platform Clari5 last month.
Established in 2019 by Raj Mohan Kunju and Raj Parthasarathy, CreditNirvana specializes in debt management solutions driven by artificial intelligence (AI) that assist banks, non-banking financial institutions, and fintech companies in streamlining loan collections, lowering delinquencies, and enhancing portfolio performance.
Give credit Thus far, Nirvana has raised $2.2 million from various sources, including Cornerstone Venture Partners Fund. According to the Bengaluru-based startup, it oversees over 42 million loan accounts and has a collection portfolio worth over $9 billion. On revenue of Rs 11.8 crore for 2023–2024, it reported a net loss of Rs 4.5 crore.
CreditNirvana will function as a fully owned subsidiary of Perfios after the acquisition, and its staff of almost 100 workers will continue to operate on their own.
Perfios, which was co-funded in 2008, offers software that analyzes bank statements, paystubs, and passbooks digitally to assist lenders in underwriting clients and businesses. Warburg Pincus, Kedaara Capital, and Bessemer Venture Partners are among the investors who have contributed $450 million to the company, which was last valued at $2.5 billion.
According to Perfios, it supports credit decision-making and financial services by processing over 8.2 billion data points a year and serving over 1,000 financial institutions in 18 countries.
