Bangalore: Perfios, a B2B SaaS fintech company, announced today that Kedaara Capital, a private equity investor, will invest $229 million in its Series-D funding round, through a primary fund raise and a secondary sale. Kedaara Capital has signed a definitive agreement to invest $299 million in a Series D funding round with Perfios Software Solutions. This marks one of the most significant investments in an Indian B2B SaaS company this year.
Perfios, one of the dominant financial data analysis software and tools providers in the Indian market with a strong footprint in the Middle East and Southeast Asia, plans to deploy the funds in its continued global expansion plans in North America and Europe. It 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.
“Led by one of the strongest teams in the space, Perfios has created truly 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, and we are excited to partner with them,” Nishant Sharma, Founder and Managing Partner of Kedaara Capital.
“We look forward to using our operational expertise and deep connectivity in the financial services and technology spaces to help support the company in this next phase of its growth journey,” added Kartikeya Kaji, MD of Kedaara Capital.
“This investment will help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe. We are very happy to have Kedaara Capital as a new investor and thankful to Bessemer Venture Partners and Warburg Pincus for their continued support and confidence in us,” said Sabyasachi Goswami, CEO of Perfios.
With frugality and efficiency being at the centre of its business, Perfios has displayed strong financial standing by achieving aggressive revenue targets of 100% YoY growth and constantly improving its bottom line. With a current footprint in 18 geographies, Perfios continues to expand its business in global markets and build sophisticated and new-age technologies that will enhance the customer experience and reduce complexities.
Since Bessemer Venture Partners joined in 2017 during the Series A round and Warburg Pincus in 2019’s Series B, Perfios has garnered significant backing from these esteemed investors over the years.