Introduction:
Perfios, an abbreviation for “Personal Finance One Stop,” is an Indian fintech company renowned for its expertise in delivering Perfios cutting-edge and all-encompassing solutions for financial data analysis and credit underwriting. Established in 2004 by VR Govindarajan and Debashish Chakraborty, Perfios has become a prominent figure within the fintech sector. The company provides diverse services catering to businesses, financial institutions, and individuals.
Some fundamental facets of Perfios’ business and offerings encompass:
1. Data Aggregation: Perfios furnishes data aggregation services that compile financial data from diverse origins, such as bank accounts, credit cards, loans, and investments. This combined data is the cornerstone of their analytical tools and credit assessment services.
2. Credit Underwriting: A core competency of Perfios lies in its real-time credit underwriting solutions. These solutions employ advanced algorithms and data analytics to evaluate the creditworthiness of individuals and businesses, facilitating informed lending decisions for financial institutions.
3. Risk Management: Perfios aids financial institutions and enterprises in effectively managing and mitigating financial risks by providing insights into the credit profiles of their clientele. This contributes to reducing non-performing assets (NPAs) and enhancing overall portfolio quality.
4. Personal Finance Management: Perfios also extends personal finance management tools tailored for individuals. Users can monitor their financial transactions, budget, and oversee their investment portfolios through the Perfios platform, enabling informed financial decision-making.
5. API Integration: Perfios offers Application Programming Interfaces (APIs) that enable businesses to seamlessly integrate their financial data analysis and credit underwriting solutions into their existing systems and workflows.
6. Compliance and Reporting: The company assists financial institutions in meeting regulatory compliance requirements while generating detailed financial reports. This reinforces transparency and accountability in their operations.
Perfios has garnered acclaim for its innovations within the fintech realm and its capacity to deliver real-time, data-driven solutions that empower businesses and individuals to manage their finances effectively. The company’s services are relevant in credit risk assessment, financial analysis, and personal finance management. Please note that my knowledge is based on information available up to September 2021, and Perfios may have undergone further developments and expansions since then.
To further its expansion in North America and Europe, Perfios, an Indian fintech company, has raised $229 million in a fresh investment round. Perfios offers real-time credit underwriting solutions to banks and non-banking financial institutions.
Leading the Series D fundraising for the 15-year-old enterprise was the Indian private equity firm Kedaara Capital. Some secondary sales were part of the new cash, but the startup did not disclose how much. According to data intelligence platform Tracxn, the Bengaluru-based company has recently raised $384 million in primary and secondary deals. It also has Warburg Pincus and Bessemer Venture Partners as investors.
Perfios Raises $229 Million:
Perfios Raises $229 Million [Source of Image : Techcrunch.com]
According to a source familiar with the situation, the new round valued Perfios at over $900 million, and more than three-fourths of the new raise came from secondary sales. According to a statement from a Perfios representative, “Our valuation has increased by 120% from the last time.” (According to Tracxn, Perfios received an $82 million round in February of last year with a post-money valuation of $413 million)
Private equity investors’ increased involvement indicates that Perfios, which operates in 18 different countries, is at least starting to get ready for its initial public offering. (PEs typically invest in startups two to three years before they go public, at least in Asia-Pacific.) According to an update, Perfios plans to go public in 18 to 24 months.
Perfios offers various services that let companies make automated loan choices, assess a customer’s creditworthiness, and gather data for APIs. It uses AI and ML approaches, is suited for various financial products, and provides insights into models and loans.
The platform can predict trends in new markets or industries and adapts and learns independently. Perfios AI offers comprehensive breakdowns, overall scores, and features to effectively assess credit risk, according to a recent analysis by Bernstein analysts.
Perfios has consistently led the way as a category-creating pioneer in the SaaS industry since our founding in 2008. Sabyasachi Goswami, CEO of Perfios, said, “I am overwhelmed with gratitude and enthusiasm to have led this journey with our 1000+ trusted partners.
“This investment will assist us in accelerating the digital transformation efforts of our partners, enabling financial inclusion and granting billions of people access to financial services worldwide.”
Perfios says it dominates the Indian market and is well-established in the Middle East and Southeast Asia. “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,” said Nishant Sharma, founder and managing partner of Kedaara Capital, in a statement.
The significant cash received by Perfios occurs when most businesses worldwide find it difficult to attract fresh investors due to the state of the public markets.
