Perfios Soars to Unicorn Status with $80 Million Funding

Fintech firm Perfios announced on Wednesday that it has secured USD 80 million (approximately Rs 660 crore) in funding from Teachers Venture Growth (TVG), the investment arm of Ontario Teachers' Pension Plan. This investment propels Perfios' valuation to over USD 1 billion, officially making it a unicorn company, according to sources.

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Empowering Financial Inclusion and Access

Perfios CEO Sabyasachi Goswami expressed his enthusiasm, stating that the investment will bolster the company's efforts in driving the digital transformation of its partners. This, in turn, will contribute to promoting financial inclusion and providing access to financial services for billions of people worldwide.

Global Expansion and Inorganic Growth

Perfios, a B2B SaaS (Software as a Service) company, primarily serves the banking, financial services, and insurance (BFSI) sector across 18 countries. The company intends to utilize the funding for its international expansion, aiming to strengthen its global presence. Additionally, Perfios will explore inorganic growth opportunities to further enhance its capabilities.

Investment in Comprehensive Tech Stack

Perfios plans to continue investing in its comprehensive technology stack, enabling end-to-end customer journeys across banking, insurance, and embedded commerce. This investment will enhance the company's ability to deliver seamless and efficient services to its clients.

Strategic Partnership with Ontario Teachers

Deepak Dara, Senior Managing Director and Head of India at Ontario Teachers, highlighted the alignment of this investment with their strategy of supporting experienced and visionary management teams in businesses with strong growth potential and a competitive edge.

Board Representation

As part of the investment, Darius Vakil, Director of TVG India, will join the board of Perfios as the nominee of Ontario Teachers' Pension Plan, further strengthening the company's leadership and governance.