Bengaluru: Fintech software firm Perfios has raised $50 million (Rs 358 crore) from private equity major Warburg Pincus and venture firm Bessemer Venture Partners. After the fund-raise, it has been valued between $110 million and $150 million (Rs 788 crore and Rs 1,075 crore), people aware of the matter said. The Bengaluru-based company recently got an account aggregator licence, which is expected to help regulated financial services entities to get higher quality consumer data, after their (consumers’) permission.
As part of the funding, Perfios saw several of its angel investors selling their stake to the institutional investors as well though exact details of the transaction could not be ascertained.
Started by V R Govindarajan and Debashish Chakraborty in 2008, Perfios helps banks, non-banking financial companies (NBFCs) and lending startups in credit assessment using various tools like screening tax data, bank statements, etc. It claims to be working with over 200 clients. Govindarajan said he will use the new capital to expand deeper in India as well as expand in new markets like Middle East, North Africa and Latin America. For now, it generates 95% of its sales from India. It is present in markets like Singapore and Vietnam.
Credits: Times of India - Article dated NOVEMBER 20, 2019