Perfios raises $229 million for its real-time credit underwriting solutions

Perfios raises $229 million for its real-time credit underwriting solutions

Perfios raises $229 million for its real-time credit underwriting solutions

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Perfios, an Indian fintech company that offers real-time credit underwriting solutions to banks and non-banking financial institutions, has secured $229 million in a recent funding round. This funding is aimed at supporting the company’s expansion efforts in North America and Europe.

The Series D funding for this 15-year-old startup was led by the Indian private equity firm Kedaara Capital. While the exact amount of secondary sales involved in the funding wasn’t disclosed, it’s worth noting that Perfios, headquartered in Bengaluru, has garnered a total of $384 million through primary and secondary transactions so far, as reported by Tracxn. Notably, Perfios also has backing from investors such as Warburg Pincus and Bessemer Venture Partners.

Perfios raises $229 million for its real-time credit underwriting solutions

The participation of private equity firms in this funding round suggests that Perfios, which operates in 18 different regions, might be gearing up for an initial public offering (IPO). Typically, private equity firms get involved with startups, especially in the Asian region, about two to three years before an IPO. Update: Perfios has announced its intention to go public within the next 18 to 24 months Perfios raises $229 million for its real-time credit underwriting solutions.

Perfios offers a range of services that enable businesses to automate loan decision-making, gain insights into a customer’s creditworthiness, and aggregate data for APIs. Its offerings encompass model and loan insights, incorporating AI and ML techniques and catering to various financial products.

The platform possesses the ability to adapt and self-learn, making it capable of predicting trends in emerging markets or sectors. Perfios AI provides comprehensive credit risk evaluations, offering overall scores, detailed breakdowns, and assessment features, as highlighted in a recent report by Bernstein analysts.

Sabyasachi Goswami, the CEO of Perfios, expressed gratitude and excitement for the company’s journey since its inception in 2008. He emphasized that this investment would aid in bolstering the digital transformation efforts of Perfios’ partners, ultimately contributing to financial inclusion and expanding access to financial services for billions worldwide Perfios raises $229 million for its real-time credit underwriting solutions.

Perfios asserts itself as the market leader in India and has established a strong presence in the Middle East and Southeast Asia. Nishant Sharma, founder and managing partner at Kedaara Capital, commented on Perfios’ position as a leading fintech SaaS business, well-positioned to capitalize on the growing digitization trend within the global financial services sector.

It’s worth noting that Perfios’ substantial funding achievement comes at a time when many startups worldwide are facing challenges in raising new capital, largely due to investor caution amidst evolving public market conditions.

For more information about Perfios, you can visit their official website here.