This Perfios company profile covers the company's valuation, revenue, funding rounds, investors and history. Perfios works in fintech, with a focus on credit decisioning and financial data. It was founded in 2008 and is headquartered in Bengaluru, Karnataka, India. Its latest valuation on record is More than US$1 billion (March 2024). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Mar 2024 | Series D (second tranche) | US$80M | More than US$1B | Teachers' Venture Growth (Ontario Teachers' Pension Plan) | FinTech Futures |
| Sep 2023 | Series D | US$229M | US$901M | Kedaara Capital (lead) | FinTech Futures |
Perfios timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2008 — Perfios is founded in Bengaluru by V.R. Govindarajan and Debasish Chakraborty.
- Sep 2023 — Series D: US$229M, valuing the company at US$901M. Investors: Kedaara Capital (lead).
- Mar 2024 — Series D (second tranche): US$80M, valuing the company at More than US$1B. Investors: Teachers' Venture Growth (Ontario Teachers' Pension Plan).
Investors
Overview
Perfios provides software and data analytics that help banks, lenders and insurers make decisions about customers. When someone applies for a loan in India, the lender needs to verify income, analyse bank statements, check tax filings and assess risk. Perfios automates much of this: it collects and analyses financial data from bank statements, tax records, account aggregators and other sources, and provides tools for onboarding, underwriting and monitoring. Its platform helps lenders approve loans faster, reduce fraud and serve customers who lack traditional credit histories.
Perfios was founded in Bengaluru in 2008 by V.R. Govindarajan and Debasish Chakraborty and is led by chief executive Sabyasachi Goswami. In September 2023 it raised a US$229 million Series D led by Kedaara Capital at a valuation of US$901 million. In March 2024 it received a further US$80 million from Teachers' Venture Growth, the late-stage investment arm of Ontario Teachers' Pension Plan, lifting its valuation above US$1 billion and making it one of India's new unicorns that year, according to FinTech Futures. It has been reported to be preparing for a possible IPO; we found no completed listing.
Products
- Bank statement analysis: automated extraction and analysis of income, expenses and risk signals.
- Onboarding and KYC: identity verification and document checks.
- Underwriting platforms: rules and models for credit decisions across retail, small business and corporate lending.
- Account aggregator integration: consent-based access to financial data under India's account aggregator framework.
- Insurance and wealth analytics: tools for insurers and wealth managers.
- Monitoring: early warning systems that detect stress in loan portfolios.
Funding
Perfios grew for many years with limited outside capital, later raising investment from Warburg Pincus and Bessemer Venture Partners. In September 2023 it raised a US$229 million Series D led by Kedaara Capital at US$901 million. In March 2024 Teachers' Venture Growth invested US$80 million, taking its valuation above US$1 billion. The company said it would use funds for international expansion and acquisitions; it has acquired several companies to broaden its product range.
Business model
Perfios charges financial institutions per transaction, such as per bank statement analysed or per application processed, and through software licences and subscriptions. Revenue grows with lending volumes and the number of products clients use. It serves hundreds of banks, non-bank lenders, fintechs and insurers.
Competition
Perfios competes with other Indian financial data and lending technology providers, such as FinBox and Signzy, with credit bureaus' analytics services, and with lenders' internal technology. Internationally, it competes with identity and data companies such as Socure and Plaid in some segments. Perfios's strengths are its long relationships with Indian banks and broad product suite.
Perfios at a glance
Perfios is a Bengaluru financial data and credit decisioning company founded in 2008 by V.R. Govindarajan and Debasish Chakraborty, led by CEO Sabyasachi Goswami. It helps banks, lenders and insurers onboard customers and make credit decisions. It raised a US$229 million Series D led by Kedaara Capital in 2023 and US$80 million from Teachers' Venture Growth in March 2024, valuing it above US$1 billion.
Timeline
- 2008: founded in Bengaluru.
- 2010s: builds bank statement analysis used by many Indian lenders.
- September 2023: raises US$229 million at US$901 million.
- March 2024: raises US$80 million from Teachers' Venture Growth, becoming a unicorn.
- 2024–2025: appoints a former Infosys finance executive as CFO and launches a new employee stock plan ahead of a possible IPO.
India's digital lending infrastructure
India has built public digital infrastructure, sometimes called the India Stack, including Aadhaar digital identity, the UPI payments system and the account aggregator framework for sharing financial data with consent. This infrastructure makes it possible to verify customers and assess creditworthiness digitally and quickly. Companies like Perfios build on it, giving lenders tools to use these data sources. As digital lending grows, demand for such tools increases.
Who funds Perfios
Perfios's investors include Teachers' Venture Growth, Kedaara Capital, Warburg Pincus and Bessemer Venture Partners.
Valuation context
Bloomberg reported in 2024 that Perfios was considering an IPO at a valuation of around US$2 billion; those plans were described as preliminary. Our guides to the largest Indian startups and the largest private fintech companies compare it with peers.
Risks
- Lending cycles: revenue depends on loan volumes.
- Regulation: RBI rules on digital lending and data use affect operations.
- Competition: many startups target lending technology.
- Data security: handling sensitive financial data brings privacy obligations.
- IPO timing: listing plans remain uncertain.
Questions for lenders
- Which data sources and integrations do you need?
- How accurate is statement analysis across banks and formats?
- How quickly can credit decisions be automated?
- How is customer consent and data handled?
How a lender uses Perfios
Consider a non-bank lender offering small business loans. An applicant uploads six months of bank statements, GST tax filings and identity documents through the lender's app, or consents to share data through an account aggregator. Perfios extracts every transaction, categorises income and expenses, flags bounced cheques, detects signs of tampered statements and calculates metrics such as average monthly balance and debt obligations. It also checks the applicant's identity and business registration. The lender's credit rules, configured in Perfios's decision engine, then approve, decline or refer the application to an underwriter. What once took several days of manual checks can now take minutes, and the lender can process far more applications with the same team.
After the loan is disbursed, monitoring tools can continue analysing data, with the borrower's consent, to spot early signs of stress, such as falling revenue or new borrowing elsewhere. This helps lenders act before loans go bad. For borrowers, faster decisions and less paperwork make credit more accessible, especially for small businesses that lack formal financial statements.
Expanding beyond India
Perfios has said it wants to grow internationally, particularly in Southeast Asia, the Middle East and Africa, where many lenders face similar challenges with fragmented financial data. Acquisitions have been part of this strategy. Succeeding abroad requires adapting to different data sources, regulations and languages, but the core problem of making fast, reliable credit decisions is universal.
What to watch
Watch for a draft IPO filing, international growth, acquisitions and adoption of account aggregator data.
Takeaways
Lenders can speed up and improve credit decisions. Founders can see how patient growth can lead to a unicorn. Investors should watch IPO progress and lending cycles.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Perfios do?
Perfios is a fintech / credit decisioning and financial data company headquartered in Bengaluru, Karnataka, India. It was founded in 2008.
What is Perfios's valuation?
Perfios was valued at More than US$1 billion as of March 2024, according to FinTech Futures. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Perfios make?
Perfios is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Perfios's latest funding round?
The most recent financing we have verified is a series d (second tranche) in Mar 2024: US$80M, at a valuation of More than US$1B. Source: FinTech Futures.
Who are Perfios's investors?
Investors named in public announcements include Teachers' Venture Growth, Kedaara Capital, Warburg Pincus and Bessemer Venture Partners.
Who founded Perfios?
Perfios was founded in 2008 by V.R. Govindarajan and Debasish Chakraborty.
Is Perfios a public company?
No. Perfios is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Perfios headquartered?
Perfios is headquartered in Bengaluru, Karnataka, India.