Perfios raises Rs 660 cr in funding from Teachers’ Venture Growth; enters unicorn club

Fintech firm Perfios on Wednesday said it has raised USD 80 million (about Rs 660 crore) from Teachers' Venture Growth, the investment arm of Ontario Teachers' Pension Plan.

The investment marks the company's valuation at over USD 1 billion, making it a unicorn company, sources said.

''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,'' Perfios CEO Sabyasachi Goswami said.

B2B SaaS (Software as a Service) company Perfios claims to serving the banking, financial services and insurance segment in 18 countries.

The company plans to utilise the funds for its international expansion and strengthening its global footprint while also exploring inorganic growth opportunities, a company statement said. The company said it will continue to invest in its comprehensive tech stack to power the end-to-end customer journeys across banking, insurance, and embedded commerce. ''Our investment in Perfios is in line with our strategy of backing seasoned and visionary management teams in businesses with strong growth potential and a clear competitive edge,'' Deepak Dara, Senior Managing Director and Head of India at Ontario Teachers', said.

As part of the investment, Darius Vakil, Director, TVG, India is slated to join the board of Perfios as the nominee of Ontario Teachers' Pension Plan, the statement said.

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