PE Fund Investments
Fintech firm Perfios raises $80-M from OTPP unit; turns Unicorn
Bengaluru-based fintech-focussed software-as-a-service (SaaS) firm Perfios is raising USD 80 million from Teachers’ Venture Growth (TVG), a growth capital investment arm of Ontario Teachers’ Pension Plan (OTPP). With the fresh investment, the company’s valuation will cross USD 1 Billion. TVG India Director Darius Vakil will join the board of Perfios.Perfios plans to use the funds to continue its expansion in South-East Asia, Middle East and Africa as well as for inorganic growth partnerships and acquisitions.Perfios had raised USD 229 million in a Series D round led by Kedaara Capital in September 2023 at a valuation of USD 901 million.The 17-year old company helps financial institutions with processes such as origination, onboarding, decisioning, underwriting and monitoring.
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