Indian fintech Perfios lands $80m investment from TVG
Indian B2B Software-as-a-Service (SaaS) fintech Perfios has secured an $80 million investment from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.
Perfios bags $80m investment from TVG
Currently maintaining a presence in 18 countries throughout Southeast Asia, Africa and the Middle East, the Bangalore-headquartered firm says it will use the new funding to reinforce its “global footprint” and tap “inorganic growth opportunities”.
Already backed by the likes of Kedaara Capital, Warburg Pincus and Bessemer Venture Partners, this latest investment from TVG builds on Perfios’ $229 million Series D closed last September, with reports suggesting the firm has now become India’s latest fintech unicorn with a valuation of over $1 billion.
Founded in 2008, Perfios provides data analysis and aggregation tools to help banks, fintechs and other financial institutions enhance their origination, onboarding, decisioning, underwriting and monitoring processes. It claims to process 1.7 billion transactions annually with assets under management (AUM) of $36 billion.
“This investment will further help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe,” comments Sabyasachi Goswami, CEO of Perfios.
For TVG, the deal marks its second direct investment in India after it backed Pune-based logistics unicorn Xpressbees in November, and forms part of a broader strategy to invest $300 billion into “key strategic countries” by 2030.
