Fintech Perfios To Reach Unicorn Status With $70 Million Fundraise

Fintech Perfios To Reach Unicorn Status With $70 Million Fundraise.
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Indian B2B credit Fintech Perfios raised over $70 million in a Series C round from existing investors Warburg Pincus LLC and Bessemer Venture Partners; this gave a considerable advantage to this India-based startups as Perfios was able to make it to the unicorn club.

According to VCCircle, its valuation is at $4.05 billion; however, Perfios themselves didn’t reveal its valuation. 

According to reports, money will be used for expanding its operations, capital expenditures, and working capital.

As a part of the transaction, Perfios allotted 416,336 Series C Compulsorily Convertible Preference Shares (CCPS) to investors at ₹12,610 each for cash. The valuation was arrived at by multiplying 2,40,87,250 post-issue fully diluted equity shares with the share price of ₹12,610 apiece.

Also Read: South African Fintech Firm, Clickatell, Recently Raised USD 91 Million

The regulatory filing showed that it also allotted 495,069 Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹1,166 each. (SOURCES:LIVEMINT.COM)

This year the company will raise around $40 million in debt funding; previously, it raised $50 million in its series B round. 

Perfios was founded in 2009. This analytical company operates both businesses to business and business to consumers categories. They say they can categorize and analyze thousands of data sets in real-time, letting financial institutions make better lending decisions. 

According to reports, Perfios categorizes over 500 million transactions every month and supports 1700 data formats. In addition, it has an international footprint across 18 countries, says the company. 

Similar Indian company RapiPay also raised $15 million. The report says the capital will build a robust digital financial ecosystem for both consumers and businesses in India. 

Also Read: India’s RazorPay Sees 611% Growth In BNPL Business Last Year

“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. (SOURCES:PYMNTS.COM)

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