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Perfios Soars to Unicorn Status with $80 Million Funding

Bengaluru-based fintech firm Perfios has secured $80 million in fresh funding, propelling it to the coveted unicorn club with a valuation exceeding $1 billion. This marks the second Indian startup to achieve unicorn status in 2024, following Krutrim SI Designs in February.


This funding round comes on the heels of Perfios' impressive performance in FY23. The company witnessed a threefold increase in revenue, reaching Rs 407 crore, and achieved profitability. Perfios' strategic acquisition of Karza Technologies further bolstered its financial performance, with Karza contributing Rs 168 crore in revenue and Rs 51 crore in profit last year.


Perfios empowers financial institutions by aggregating and analyzing financial data, generating reports for credit assessment, fraud detection, and more. The company boasts a clientele exceeding 100 large institutions, including banks, NBFCs, and insurance companies.


Looking ahead, Perfios plans to leverage the fresh capital for global expansion, exploring inorganic growth opportunities, and strengthening its technological infrastructure. This will enable them to further streamline customer journeys across banking, insurance, and embedded commerce.


Perfios has achieved a remarkable feat by becoming the second Indian unicorn of 2024, securing a valuation over $1 billion. Perfios strategically invested in its growth trajectory through the acquisition of Karza Technologies. To further solidify their market position, the company plans to leverage the recent funding for global expansion, potential acquisitions, and advancements in their technological infrastructure. This accomplishment is coupled with their impressive financial performance in FY23, marked by profitability and a substantial rise in revenue.


 

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