Perfios Secures $80 Million Investment from TVG, Enters Unicorn Club

Fintech startup Perfios announced that it has raised $80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan. Perfios, a B2B SaaS (Software as a Service) company, claims a significant market share in India and also operates in Southeast Asia, the Middle East, and Africa. The company plans to utilize the funds to expand its international presence and explore growth opportunities through acquisitions.

Perfios CEO Sabyasachi Goswami expressed gratitude for the investment, highlighting its role in advancing their partners’ digital transformation journey and facilitating financial inclusion globally. Goswami noted the company’s consistent year-on-year growth and improved profitability. Additionally, Perfios aims to enhance its technology stack to streamline customer experiences in banking, insurance, and embedded commerce.

 

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This investment marks TVG’s second direct investment in India and its first in the enterprise B2B SaaS sector. Deepak Dara, senior managing director and head of India at Ontario Teachers’, emphasized their strategy of supporting visionary management teams in businesses with strong growth potential.

Kelvin Yu, senior managing director and head of Teachers’ Venture Growth in Asia, highlighted the opportunities within India’s B2B enterprise tech space. Perfios plans to introduce new use cases to bolster growth prospects and solidify its position as a key player in financial services digitization.

As part of the investment, Darius Vakil, director of TVG India, is set to join Perfios’ board as Ontario Teachers’ Pension Plan’s nominee. Perfios is backed by other notable investors such as Bessemer Venture Partners, Warburg Pincus, and Kedaara Capital.

Established in 2008, Perfios offers financial and data analysis software, along with lending solutions tailored for small and medium businesses.