In a landmark week, Perfios Software Solutions becomes the next Indian start-up to be part of the exclusive Unicorn club, having secured $70 Mn in Series C funding. The latest funding takes the fintech company’s evaluation to more than $2 Billion.
It also becomes the 10th unicorn of 2022 and second Indian company this week, after open source platform Hasura.
The funding was kick-started by Warbug Pincus and Bessemer Venture Partners, who invested a combined total of $60 Mn in the Bengaluru based platform.
The company said in the regulatory filing that it will be using the funds for furthering its business, hiring which will include financing the acquisition of other companies, capital expenditure and working capital requirements.
The company had last raised funds in November 2019, when it raised $50 million as a part of its Series B funding round from Bessemer Venture Partners and Warbug Pincus.
Founded in 2008, Perfios helps financial institutions in real-time decision-making, analysis and credit underwriting. It analyses data to build vertical applications that can be directly used by banks, non-banking financial companies, money managers and many others.
Perfios’ unicorn status comes at a time when competition in the fintech space is rising in India, with COVID-19 induced restrictions accelerating the demand for digital adoption.