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HomeBankingIndian fintech Perfios lands $80m investment from TVG

Indian fintech Perfios lands $80m investment from TVG

Date:

  • Perfios, an Indian B2B Software-as-a-Service (SaaS) fintech, has secured an $80 million investment from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.
  • Headquartered in Bangalore, Perfios maintains a presence in 18 countries across Southeast Asia, Africa, and the Middle East.
  • The investment will be used by Perfios to reinforce its global footprint and explore inorganic growth opportunities.
  • Perfios was previously backed by investors such as Kedaara Capital, Warburg Pincus, and Bessemer Venture Partners.
  • This latest investment from TVG follows Perfios’ $229 million Series D funding round closed in September, resulting in a valuation of over $1 billion and making it India’s latest fintech unicorn.
  • Founded in 2008, Perfios provides data analysis and aggregation tools to financial institutions to enhance their origination, onboarding, decisioning, underwriting, and monitoring processes.
  • Perfios processes 1.7 billion transactions annually and manages assets worth $36 billion.
  • Sabyasachi Goswami, CEO of Perfios, states that the investment will strengthen the digital transformation journey of their partners and enable financial inclusion globally.
  • For TVG, this investment in Perfios marks its second direct investment in India, following its backing of logistics unicorn Xpressbees in November.
  • TVG aims to invest $300 billion into key strategic countries by 2030 as part of its broader investment strategy.

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