Perfios Raises $229M Funding from Kedaara Capital to Fuel Global Expansion
In Brief
Perfios, a global B2B SaaS company, announced it successfully raised a substantial $229 million in its Series D funding round.
Perfios, a global B2B software-as-a-service (SaaS) company, announced it successfully raised a substantial $229 million in its Series D funding round. The financing, supported by prominent private equity investor Kedaara Capital, marks one of the most substantial investments in an Indian B2B SaaS enterprise this year.
Perfios, a prominent figure in the Indian market with a robust presence in the Middle East and Southeast Asia, has divulged plans to allocate these funds strategically for its relentless global expansion efforts across North America and Europe.
This development in Perfios’ journey is in tandem with the company’s overarching vision to bolster its extensive array of Decision Analytics SaaS products, harnessing cutting-edge technologies. This expansion aims to offer comprehensive solutions that cater to the entire spectrum of the customer journey, encompassing the domains of banking, insurance, and embedded commerce.
Nishant Sharma, founder and managing partner at Kedaara Capital, expressed his confidence in Perfios, saying, “Led by one of the strongest teams in the space, Perfios has created truly the best-in-class fintech SaaS business that capitalizes on the robust secular growth and the escalating levels of digitization in the financial services sector, both in India and globally.”
Perfios’ strong financial prowess is evident through its impressive achievement of doubling its revenue, achieving a remarkable 100 percent year-over-year growth rate, and consistently enhancing its bottom line. Currently operating in 18 diverse geographical locations, Perfios continues to assertively expand its footprint in the global marketplace.
Sabyasachi Goswami, CEO of Perfios, emphasized the far-reaching impact of this investment, stating, “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.”
Highlighting the company’s commitment to its employees, VR Govindarajan, Co-Founder, and Chairman of Perfios, noted, “This funding underscores not just our achievements and the tireless dedication of our employees, but also our commitment to employee wealth creation through ESOPs.”
Perfios has attracted significant support from eminent investors over the years, with Bessemer Venture Partners joining during the Series A round in 2017 and Warburg Pincus participating in the Series B round in 2019.
The company asserts it processes 8.2 billion data points annually for banks and financial institutions, facilitating faster decision-making, and manages an impressive $36 billion in assets under management (AUM), processing a remarkable 1.7 billion transactions each year.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
More articles
Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
