Indian Fintech Perfios Raises US$229M Series D Led by Kedaara Capitalby Fintech News Singapore September 12, 2023
Perfios, an Indian B2B Software as a service (SaaS) firm, announced that it has raised US$229 million in its Series D funding round led by Kedaara Capital. The fundraise was a mix of a primary fund raise and a secondary sale.
Having an established footprint in Southeast Asia and the Middle East, the firm intends to use the funds to accelerate its global expansion plans, eyeing the North America and Europe regions.
Additionally, Perfios will also use the funds to enhance its stack of decision analytics SaaS products which claims to solve the end-to-end customer journey across banking, insurance, and embedded commerce.
Perfios was backed by Venture Partners in its Series A in 2017 and Warburg Pincus in its Series B fundraise in 2019.
Founded in 2008, Perfios has a presence in 18 countries with over 1,000 financial institutions as its client base.
Sabyasachi Goswami, CEO of Perfios said,
“This investment will help us strengthen 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.”
VR Govindarajan, Co-founder and Chairman of Perfios added,
“Every step of Perfios’ journey has been shaped by the collective passion of our team.
This funding underscores not just our achievements and the tireless dedication of our employees, but also our commitment to employee wealth creation through ESOPs.”