Perfios, a leading B2B SaaS Fintech company in India, has announced that it will receive $229 million in Series-D funding from Kedaara Capital, a leading private equity investor.
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The funding round will combine a primary fund raise and a secondary sale, making it one of the largest investments in an Indian B2B SaaS company this year.
Perfios plans to use the funding to expand its global presence in North America and Europe, as well as invest in new-age technologies to enhance its comprehensive stack of Decision Analytics SaaS products.
These products are designed to solve the entire end-to-end customer journey across banking, insurance, and embedded commerce. Perfios has a strong footprint in the Middle East and Southeast Asia, and with a current presence in 18 geographies, it aims to build sophisticated and new-age technologies that will enhance the customer experience and reduce complexities.
Kedaara Capital’s Founder and Managing Partner, Nishant Sharma, said that Perfios has created a best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitization levels in the financial services sector in India and globally.
He also added that their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market-leading position. Kartikeya Kaji, Managing Director of Kedaara Capital, further added that they look forward to using their operational expertise and deep connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey.
Perfios has consistently led the way as a category-creating leader in the SaaS space since its inception in 2008.
The company has achieved aggressive revenue targets of 100% YoY growth and constantly improved its bottom line, displaying strong financial standing. With Bessemer Venture Partners joining in 2017 during the Series A round and Warburg Pincus in 2019’s Series B, Perfios has garnered significant backing from these esteemed investors over the years.
Perfios’ CEO, Sabyasachi Goswami, expressed his gratitude and excitement to have led this journey with their 1000+ trusted partners, stating that the investment will help them strengthen the digital transformation journey of their partners, thereby powering financial inclusion and providing access to financial services to billions across the globe.
He also thanked Kedaara Capital as a new investor and Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in Perfios.
V. R. Govindarajan, Co-Founder and Chairman of Perfios, commented that every step of Perfios’ journey has been shaped by the collective passion of their team. This funding underscores not just their achievements and the tireless dedication of their employees, but also their commitment to employee wealth creation through ESOPs.
He added that with gratitude and renewed passion, they’re poised to continue their transformative journey, championing innovation in the financial sector.
Vishal Mahadevia, Managing Director & India Head, Warburg Pincus, said that having been a part of Perfios’ journey from its early stages, they continue to be impressed by the company’s relentless drive, customer-centricity, and innovation.
He added that this new round of funding further solidifies their belief in Perfios’ vision. As Perfios continues to redefine the industry, they’re proud to reaffirm their support and look forward to the company scaling even greater heights in the future.
Vishal Gupta, Partner, Bessemer Venture Partners, commented that from their initial investment, they recognized the immense potential in Perfios and their unique approach to the B2B SaaS Fintech space.
He added that as Perfios embarks on this new chapter, BVP is excited to continue their partnership, confident that Perfios will set new benchmarks in the industry.
