Teachers' Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan, is investing $80 million in Perfios, an Indian fintech that provides real-time credit underwriting solutions to banks and other financial institutions. . This new investment values Perfios at more than his $1 billion valuation.
Fifteen-year-old Perfios, which raised a $229 million funding round in September, said it would use the new funding to expand internationally and explore opportunities for inorganic growth (read: acquisitions). The company said earlier that the previous transactions are expected to be listed by next year.
Bengaluru-based Perfios provides real-time data aggregation and analytics tools to financial institutions, enabling them to streamline processes and make more informed decisions for loans and other products. Masu. Perfios helps banks and non-bank financial companies assess the creditworthiness of potential borrowers, reduce the risk of default, and improve overall portfolio quality.
Perfios provides 8.2 billion data points to banks and other financial institutions each year to facilitate faster decision-making, processes 1.7 billion transactions annually, and has $36 billion in assets under management. says. Perpheus is the second unicorn born in India this year.
Perfios credit decision tool.Image credit: AllianceBernstein
“We are excited about the growing opportunities in the B2B enterprise technology space in India and believe Perfios is a best-in-class SaaS player with a focus on fintech,” said Sr. Managing Director and Teacher Ventures, India. said Kelvin Yu, Head of Growth. Asia said in a statement.
The Ontario Teachers' Pension Plan, one of Canada's largest pension funds, has increased its interest in India in recent years. Last year, the fund also backed logistics unicorn The company plans to deploy a large amount of funds to India.