Perfios, a business-to-business (B2B) software as a service (SaaS) start-up has raised $229 million in its series-D funding round from Kedaara Capital through the combination of a primary fund raise and a secondary sale.  

Bessemer Venture Partners was part of the start-up's Series A funding round in 2017, while Warburg Pincus participated in its Series B funding in 2019.

Perfios plans to deploy the newly raised capital to fuel its continued global expansion plans in North America and Europe. It also plans to invest in new-age technologies to enhance its stack of decision analytics SaaS products that claim to solve the end-to-end customer journey across banking, insurance, and embedded commerce.   

On signing the agreement with Perfios, Nishant Sharma, founder and managing partner of Kedaara Capital, said, “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.” 

Commenting on the development, Sabyasachi Goswami, CEO of Perfios, added, "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 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.”

VR Govindarajan, co-founder and chairman of Perfios, commented, “Every step of Perfios' journey has been shaped by the collective passion of our team. This funding underscores not just our achievements and the tireless dedication of our employees, but also our commitment to employee wealth creation through ESOPs.”   

On the new round of investment, Vishal Mahadevia, managing director and India Head of Warburg Pincus said "Having been a part of Perfios' journey from its early stages, we continue to be impressed by the company’s relentless 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."

Founded in 2008, Perfios serves the banking, financial services, and insurance industry across 18 countries, empowering more than 1000 financial institutions. It delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisions and process 1.7 billion transactions a year. With $36 billion of assets under management, accelerating access to credit and financial services for their clients' customers.