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

Perfios has raised over $70 million in a Series C round of funding from existing investors Warburg Pincus LLC and Bessemer Venture Partners, putting the Bengaluru, India-based FinTech startup in the unicorn club, Tech Story reported Sunday (Feb. 27).

Perfios didn’t reveal its valuation, but the fresh round, according to VCCircle, has valued the company at $4.05 billion.

According to the release, Perfios will use the money for expanding its operations, capital expenditure, financing acquisitions and working capital.

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

Perfios was founded in 2009. It is an analytics company, operating both in the business-to-business (B2B) and business-to-consumer (B2C) categories. It says it can extract, categorize and analyze thousands of data sets in real time, letting financial institutions make better lending decisions.

The report says Perfios categorizes over 500 million transactions every month and supports 1,700 data formats.

The company says it has an international footprint across 18 countries.

Read more: FinTech Firm RapiPay Raises $15M for Digital Banking Super App NYE

Fellow Indian FinTech RapiPay has also raised money lately, bringing in $15 million towards making its digital banking super app NYE work better.

The report says the capital will be used to build “a robust digital financial ecosystem” for both consumers and businesses in India.

“The investors see a great synergy with NYE in getting their entire retail network of 6 million merchants using the super app for all their requirements like salary and current accounts, payment solutions, retail and business loans, buy now pay later, investments, insurance or other convenience services,” said RapiPay in a statement announcing the funding effort.

Yogendra Kashyap, co-founder and managing director, said entering B2C markets with NYE is a “natural business progression.”

“Our philosophy has been to first research, understand the requirements and then create technology with viable business models. We don’t believe in just burning capital to acquire consumers,” he said.