Global B2B software-as-a-service (SaaS) leader, Perfios, has announced a significant milestone by securing $229 million in its Series D funding round, led by prominent private equity investor Kedaara Capital.
This substantial fundraise, consisting of a combination of primary and secondary sales, represents one of the largest investments in an Indian B2B SaaS company this year.
Perfios, a market leader in India with a strong presence in the Middle East and Southeast Asia, intends to utilize the funds to accelerate its ongoing global expansion efforts in North America and Europe. The company also plans to invest in cutting-edge technologies to enhance its comprehensive stack of Decision Analytics SaaS products, aimed at addressing the entire end-to-end customer journey across the banking, insurance, and embedded commerce sectors.
Commenting on the investment, Nishant Sharma, Founder and Managing Partner of Kedaara Capital, praised Perfios as a top-tier fintech SaaS business, driven by an exceptional team. He emphasized the company’s positioning in a sector characterized by robust secular growth and increasing digitization in the financial services industry, both in India and globally.
Perfios has demonstrated remarkable financial strength, consistently achieving revenue targets with an impressive YoY growth rate of 100 percent. With its current presence in 18 geographies, Perfios is committed to further expanding its global reach.
Sabyasachi Goswami, CEO of Perfios, highlighted the significance of the investment in strengthening the digital transformation journey for their partners, ultimately contributing to financial inclusion and extending access to financial services to billions worldwide.
The funding not only underscores Perfios’ accomplishments and its dedicated team but also reinforces its commitment to employee wealth creation through Employee Stock Ownership Plans (ESOPs), as noted by VR Govindarajan, Co-Founder, and Chairman of Perfios.
Since its founding in 2008, Perfios has gained a strong foothold in the banking, financial services, and insurance sector across 18 countries. The company empowers over 1,000 financial institutions, delivering 8.2 billion data points annually to facilitate faster decision-making. With a yearly processing capacity of 1.7 billion transactions and assets under management (AUM) totaling $36 billion, Perfios has become a trusted partner for financial institutions worldwide.
Perfios has garnered significant support from leading investors, including Bessemer Venture Partners during the Series A round in 2017 and Warburg Pincus in the Series B round in 2019. This latest funding round reinforces Perfios’ position as a leader in the B2B SaaS space and is poised to fuel its future growth and innovation initiatives.