Indian B2B Credit Platform Perfios Adds FinTech Karza

Software-as-a-Service (SaaS) firm Perfios has acquired FinTech platform Karza Technologies for an undisclosed amount, two weeks after Perfios raised $100 million in a Series C fundraising round, according to a VCCircle report Wednesday (March 16).

Warbug Pincus and Bessemer Venture Partners led that investment effort for Perfios, who said in regulatory filings with the Ministry of Corporate Affairs that it would use the fresh capital to acquire other companies, capital expenditure and working capital requirements.

According to Perfios, the company has more than 350 customers for its real-time credit decisioning and analytics platform, including banks, non-bank lenders and FinTech startups in India, Southeast Asia, the Middle East and Africa.

Per the report, the platform can generate insights on credit assessment, monitoring, fraud analytics, personal finance management and more. Meanwhile, Karza provides solutions in digitization, fraud mitigation, onboarding automation and systemic risk for 450 customers in the fields of lending, banking, payments, insurance and FinTech.

“Karza’s deep focus in onboarding automation and fraud prevention through their superior data engineering and deep tech application make them a unique player in the market. Their solutions and expertise will help Perfios innovate faster,” Perfios CEO and co-founder V. R. Govindarajan said in the report.

“Together, there is so much synergy that the combined entity can disrupt the market and provide huge value to our customers that would not have been possible if we had remained independent entities,” he said.

Bengaluru, India-based Perfios became a unicorn — a private company valued at $1 billion or more — with its Series C funding round. Perfios didn’t reveal its valuation, but VCCircle pegged the company at $4.05 billion after the fundraising effort.

Related: Indian B2B Credit Decisioning FinTech Perfios Hits Unicorn Status With $70M Fundraise

The company also will raise around $40 million in debt funding this year. It had previously raised $50 million in its Series B round.

Perfios categorizes over 500 million transactions every month and supports 1,700 data formats, with an international footprint across 18 countries.