Fintech firm Perfios becomes India`s second unicorn of this year
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
B2B SaaS fintech company Perfios has become India's second unicorn of 2024 as it raised $80 million in a new funding round from Teachers' Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers' Pension Plan.
Perfios now valued at more than $1 billion with the new investment, reports TechCrunch.
The company said that it will be using the new capital for international expansion and to explore inorganic growth opportunities. It also plans to go public by next year.
"Our business has been seeing steady growth year-on-year, with consistent improvement in the bottom line. I want to extend my heartfelt gratitude to all our partners who have trusted us throughout our journey," Sabyasachi Goswami, CEO of Perfios, was quoted as saying.
Bhavish Aggarwal's AI startup Krutrim SI Designs raised $50 million at a $1 billion valuation last month, becoming the first unicorn of this year.
Last year, Perfios raised $229 million in its Series D funding from leading private equity investor Kedaara Capital.
Founded in 2008, Perfios is serving the banking, financial services and insurance industry in 18 countries, empowering more than 1,000 financial institutions.
Perfios delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and processes 1.7 billion transactions a year with an AUM of $36 billion.
