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Teachers ’ Venture Growth , the late - stage venture and growth investing arm of Ontario Teachers ’ Pension Plan , is investing $ 80 million in Perfios , an Amerindic fintech that providesreal - time recognition underwriting result to banksand other financial institution . The new investment values Perfios at over $ 1 billion .
Fifteen - year - old Perfios , which raised a $ 229 million financial backing round in September , said it will practice the fresh capital to tone up its business outside of India and to explore inorganic growth opportunities ( read : acquisitions . ) The startup , which is operational in well-nigh two dozen securities industry andhas raised $ 464 million in primary and secondary transactions to date , plans to go public by next class , it say earlier .
Perfios , based in Bengaluru , provide real - meter information aggregation and analysis pecker to financial institutions , enabling them to streamline their client journeying and make more informed decisions . By leveraging innovative algorithms , Perfios facilitate bank , fintechs and other financial institutions as well as indemnity firms slim risk , spot fraud , and better the overall quality of their portfolio while strengthening their determination - making processes .
“ Our business has been seeing stiff growth twelvemonth - on - year , with uniform improvement in the bottom line , ” said Sabyasachi Goswami , CEO of Perfios , in a statement . “ I want to extend my heartfelt gratitude to all our partners who have trusted us throughout our journey . ”
Perfios said it extradite 8.2 billion data points to banking concern and other financial institutions every twelvemonth to facilitate faster decisioning , and processes 1.7 billion dealings a twelvemonth with an AUM of $ 36 billion . Perfios is thesecond unicorn from India this year .
The inauguration , whose customers include HDFC and Kotak Bank , beget a revenue of $ 49.1 million in the financial year end March last year .
“ We are excited about the originate opportunities within the B2B endeavor technical school blank space in India , and we think Perfios is a best - in - course fintech - focused SaaS player , ” say Kelvin Yu , senior managing conductor and headway of Teachers ’ Venture Growth in Asia , in a statement .
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Ontario Teachers ’ Pension Plan , one of Canada ’s big pension funds , has ramped up its interest in India in late years . The investment trust , which also backed logistics unicorn XpressBees last twelvemonth , has commit more than $ 3 billion in India and plan to deploy a pregnant amount in the country by 2030 as part of its broader goal to deploy $ 300 billion in certain fundamental mart .
