Fintech firm Perfios Software Solutions Pvt. Ltd has raised $50 million (about Rs 358.43 crore) in its Series B funding round from private equity firm Warburg Pincus and existing investor Bessemer Venture Partners.
The deal includes primary capital infusion into the company and the purchase of shares from early angel investors, Perfios said in a statement.
It didn’t disclose the amount of primary capital or the name of the angel investors who are exiting.
The Bengaluru-based company will use the funds to develop new offerings and strengthen its presence in the Middle East and North Africa region as well as Southeast Asia. It will also use the funds to explore potential acquisitions.
The announcement comes just days after Perfios said last week that it had acquired the intellectual property and other assets of FintechLabs Technologies Pvt. Ltd, a Noida-based company which provides digital lending software as a service to companies.
Siddharth Narayan, principal at Warburg Pincus India Pvt. Ltd, said Perfios s continuing to invest in product innovation with a focus on customer experience and security.
Perfios was founded by VR Govindarajan and Debasish Chakraborty in 2008. It helps financial institutions in real-time decision-making, analysis and credit underwriting. It analyses data to build vertical applications that can be directly used by banks, non-banking financial companies, money managers and others.
In April 2017, Perfios raised $6.1 million (around Rs 40 crore) in its Series A round Bessemer, marking its first institutional round of funding.
Credits: VCCiRCLE - Article dated 19/11/2019