SaaS fintech Perfios today raised $229 million from Kedaara Capital in its Series-D funding round. With this, Perfios plans to deploy the funds to fuel its continued global expansion plans in North America and Europe. The company also plans to invest in new-age technologies to enhance its comprehensive stack of decision analytics SaaS products to solve the entire end-to-end customer journey across banking, insurance and embedded commerce, a statement from Perfios notified.
On signing the agreement with Perfios, Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said in the statement, “Led by one of the strongest teams in the space, Perfios has created the best-in-class fintech SaaS business that plays on the strong secular growth and increasing digitisation levels in the financial services sector in India and globally. Their pioneering approach has led to a strong positive flywheel effect that will help the company maintain its market-leading position……”
In addition to it, Kartikeya Kaji, Managing Director, Kedaara Capital, also remarked in the statement, “We look forward to use our operational expertise and connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey.”
Since its inception in 2008, Perfios has consistently led the way as a category-creating leader in the SaaS space, mentioned Sabyasachi Goswami, CEO, Perfios, in the statement.
” ……..This investment will help us strengthen the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe. We are happy to have Kedaara Capital as a new investor, and thankful to Bessemer Venture Partners and Warburg Pincus for their support and confidence in us,” he said in the statement.
With Bessemer Venture Partners joining in 2017 during the Series A round and Warburg Pincus in 2019’s Series B, Perfios has garnered backing from these investors over the years, as per the statement.
On the new round of investment, Vishal Mahadevia, Managing Director and India Head, Warburg Pincus, said, in the statement, “Having been a part of Perfios’s journey from its early stages, we continue to be impressed by the company’s drive, customer-centricity and innovation. Their commitment to revolutionising the financial services sector has been unwavering, and this new round of funding further solidifies our belief in their vision……”
The statement also highlighted that Perfios has achieved revenue targets of 100 per cent YoY growth. With a current footprint in 18 geographies, the company continues to expand its business in global markets and build new-age technologies that will enhance the customer experience and reduce complexities.
Vishal Gupta, Partner, Bessemer Venture Partners, also commented in the statement, “From our initial investment, we recognised the potential in Perfios and their unique approach to the B2B SaaS fintech space. As they embark on this new chapter, BVP is excited to continue our partnership, confident that Perfios will set new benchmarks in the industry.”