For an undisclosed sum, Perfios, a SaaS-based B2B fintech company, purchased CustomerXPs, a fraud detection platform called Clari5.
The acquisition will turn Clari5 into a fully-owned subsidiary of Perfios, which employs about 1,500 people at the moment. The Clari5 leadership team will remain a separate and autonomous unit within the organization.
Clari5 offers banks a variety of solutions, such as identity resolution, loan origination and monitoring, payment fraud reporting, enterprise fraud management, anti-money laundering, and customer-looped alert management services.
Approximately $3.9 million in equity funding has been raised by Clari5 since its founding in 2006. Clari5 reported a net profit of Rs 3.4 crore in FY24, on top of Rs 76.5 crore in revenue.
Financial institutions can benefit from Perfios’ assistance with automated customer onboarding, fraud detection, verification, and revenue analysis. It provides services to industries like wealth management, SME lending, and consumer lending. The organization supports more than 1,200 institutions and works in 18 countries.
Fego.ai, an open finance platform based in Chennai, was acquired by Bengaluru-based fintech company Perfios earlier in September 2023. With a $80 million round last March, Perfios became a unicorn.
Media reports that Perfios’ operating revenue increased from Rs 407 crore in FY23 to Rs 557.8 crore in FY24. The company’s profit after tax (PAT) increased 9.2 times to Rs 71.67 crore during that time.
