Perfios To Raise $229 Million From Kedaara Capital

Fintech firm Perfios on Monday said it will raise USD 229 million (around Rs 1,900 crore) from private equity investor Kedaara Capital in its growth stage funding round. Kedaara Capital will invest in the business-to-business software-as-a-service provider Perfios through the combination of a primary fundraise and a secondary sale. This marks one of the largest investments in an Indian B2B SaaS company this year, the statement said.

"This investment will 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. We are very happy to have Kedaara Capital as a new investor, and thankful to Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in us," Perfios CEO Sabyasachi Goswami said. Founded in 2008, Perfios is a global B2B SaaS company serving the banking, financial services and insurance industry in 18 countries.

Perfios plans to deploy the funds to fuel its continued global expansion plans in North America and Europe. The company also plans to invest in new-age technologies to enhance its comprehensive stack of decision analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance, and embedded commerce, the statement said.

"Perfios has created truly the 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. "Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market leading position, and we are excited to partner with them," Kedaara Capital founder and managing partner Nishant Sharma said.

(PTI)