Perfios Becomes Unicorn with $80M Boost from Teachers' Venture Growth
Perfios, an India-based fintech startup specializing in B2B SaaS solutions, has secured $80 million in funding from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment division of the Ontario Teachers' Pension Plan. The company plans to leverage the capital to bolster its international presence, with a focus on expanding into South-East Asia, the Middle East, and Africa, and to support organic and inorganic growth initiatives.
With this latest funding round, Perfios has achieved a valuation of over $1 billion, joining the ranks of India's unicorn companies. The company, established in 2008, has a broad operational footprint across 18 countries and processes an annual total of 1.7 billion transactions. Perfios serves a range of clients within the banking, financial services, and insurance sectors by providing data analysis tools to facilitate lending decisions.
The strategic investment by TVG marks its second direct investment in India and its inaugural foray into the enterprise SaaS space within the region. As part of the investment agreement, Darius Vakil, Director of TVG India, will join the board of Perfios. This collaboration underscores TVG's investment philosophy of supporting seasoned management teams that harness technology to carve out a competitive edge in their respective industries.
