Perfios snags $80 million investment from TVG for SaaS fintech.

TLDR:

Perfios, a SaaS fintech startup, secures $80 million from TVG, attains unicorn valuation. The funding will be used for acquisitions, international expansion, and technology stack enhancement.

Article Summary:

A fintech-focused software startup, Perfios, has secured $80 million from TVG, the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan. This funding has propelled Perfios to a billion-dollar valuation, making it the second company to achieve unicorn status this year. The company plans to utilize the funds for exploring acquisitions and international expansion into the US and European markets in 2024. CEO Sabyasachi Goswami expressed that the investment will help strengthen the digital transformation journey of their partners and enhance financial inclusion globally.

Perfios is also considering an initial public offering (IPO) to raise about $500 million in India at a potential valuation of $2 billion. The startup has previously secured funding from private equity investors and has been steadily growing its business since its founding in 2008. With the new funding from TVG, Perfios aims to invest in a tech stack to manage customer services across banking, insurance, and embedded commerce, indicating a focus on enhancing their service offerings and expanding their presence in key markets.