Fintech software startup Perfios has raised close to USD 50 million in its Series B round led by Warburg Pincus and Bessemer venture Partners.
The investment amount includes primary capital infusion into the company and purchase of shares from early angel investors. The fresh funds will be utilised for continued technology innovation, international expansion, and potential acquisitions.
The Bengaluru-based credit decisioning and analytics company was founded by V R Govindarajan and Debashish Chakraborty.
Perfios works with over 200 banks, non-bank lenders and fintech startups.
“We will utilise the funds raised in three core areas –continued technology innovation, developing new offerings, international expansion by strengthening our presence in the Middle East, North Africa and Southeast Asia and in exploring potential acquisitions,” said Govindarajan, Director, Perfios. “We will also work closely with regulators in building a secure ecosystem through emerging initiatives such as NBFC Account Aggregator and the Personal Data Privacy Bill.”
The company’s core technology platform helps in the aggregation and analysis of financial data such as bank statements, tax data and business financials to help generate a wide range of reports across credit assessment, monitoring, fraud and banking data aggregation.
“The exponential growth of data, and rapidly increasing adoption of technology and data science in credit decisioning presents a significant opportunity for the industry,” said Siddharth Narayan, principal, Warburg Pincus India.Perfios raises $50million in Series B round, Warburg Pincus joins cap-table