Indian B2B SaaS fintech company, Perfios, has successfully raised $229 million in a Series-D funding round led by Kedaara Capital. This investment, one of the largest in an Indian B2B SaaS company this year, highlights the continued availability of capital for startups with solid business models, despite the challenges faced by the broader startup ecosystem during what some term a "funding winter."
Perfios, founded in 2008, has established itself as a category-leading player in the SaaS space, serving the banking, financial services, and insurance industry across 18 countries. The company's software platforms and products enable financial institutions to streamline their origination, onboarding, decisioning, underwriting, and monitoring processes efficiently and at scale.
Sabyasachi Goswami, CEO of Perfios, expressed his enthusiasm about the investment, stating that it would strengthen the company's mission of advancing digital transformation among its partners. Perfios aims to empower financial inclusion and expand access to financial services globally.
In addition to Kedaara Capital's participation, Perfios continues to receive support from existing investors, including Warburg Pincus and Bessemer Venture Partners. This reflects the confidence these investors have in Perfios' growth potential and the value it brings to the financial industry.
With a current presence in 18 geographies, Perfios has ambitious expansion plans. The funding will be instrumental in further extending its global footprint to North America and Europe. Perfios also intends to invest in cutting-edge technologies to enhance its suite of decision analytics SaaS products. These enhancements aim to provide end-to-end solutions across the entire customer journey, spanning banking, insurance, and embedded commerce.
Perfios' commitment to innovation, coupled with its strong track record in the B2B SaaS space, positions it well to capitalize on the growing demand for digital solutions in the financial sector. The infusion of funds from Kedaara Capital and ongoing support from existing investors will propel Perfios towards achieving its global growth objectives and delivering enhanced customer experiences in the dynamic world of fintech.
As Perfios continues its expansion and product development efforts, the company is poised to play a pivotal role in shaping the future of financial services, driving efficiency, and promoting financial inclusion on a global scale.
