SaaS-based B2B fintech Perfios raised $229 M Series D funding from Kedaara Capital

Perfios, a SaaS-based B2B fintech company, has raised $229 million in its Series D round from primary and secondary sales under the direction of private equity investor Kedaara Capital.

One of the biggest investments made in an Indian B2B SaaS company this year is this one. The Bengaluru-based business valued at $400 million raised about $70 million in its Series C round from existing investors Warburg Pincus and Bessemer India. The business, which has so far raised about $360 million, declined to comment on how much it is currently worth.

Perfios intends to use the funds to fuel its global expansion plans in North America and Europe. It currently operates in 18 geographies. According to the business, it also intends to make investments in cutting-edge technologies to improve its extensive suite of decision analytics SaaS products.

In order to generate reports in the areas of credit assessment, monitoring, fraud, and banking data aggregation, Perfios, which was founded in 2008, assists in the collection and analysis of financial data such as bank statements, tax returns, and business financials.

In a variety of industries, including banking, non-bank financial companies (NBFCs), online lending platforms, mutual funds, insurance, and human resources, the company has attracted more than 100 significant clients.

With an AUM of $36 billion, Perfios claims to process 1.7 billion transactions annually and deliver 8.2 billion data points to banks and financial institutions annually to enable quicker decisions.

The company claims to have met its revenue targets of 100% YoY growth even though it has not yet submitted its annual financial statement for FY23.