Perfios raises $80m funding from Teachers’ Venture Growth

By Gloria Mathias

Perfios, India’s B2B SaaS FinTech company, has announced that Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, will invest $80 million into the company.

With established market leadership in India and a growing. With a presence in South-East Asia, the Middle East, and Africa, Perfios plans to continue its international expansion and strengthen its global footprint, while also utilising the funds towards exploring inorganic growth opportunities. The company will also continue to invest in their comprehensive tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce.

The investment from TVG reflects Perfios’ strong growth prospects globally and in the broader growth and digitization of financial services in India. Perfios aligns well with TVG’s strategy of investing behind strong and experienced management teams that leverage technology to build a compelling value proposition and leading position, both in terms of customer penetration and product offering.

Kelvin Yu, Senior Managing Director and Head of Teachers’ Venture Growth in Asia, said, “We are excited about the growing opportunities within the B2B enterprise tech space in India, and we believe Perfios is a best-in-class fintech-focused SaaS player. Perfios continues to invest behind its market-leading tech stack, adding new use cases that enable the company to be the trusted partner of choice to leading financial institutions globally. We are excited to be a value-added partner to Perfios’ global ambitions.”

Sabyasachi Goswami, CEO of Perfios, shared, “Our business has been seeing steady growth year-on-year, with consistent improvement in the bottom line. I want to extend my heartfelt gratitude to all our partners who have trusted us throughout our journey. This investment will further help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion, and providing access to financial services to billions across the globe. I am glad to have Teachers’ Venture Growth as a new investor in our Perfios family.”