Perfios raises Rs 520 crore from Warburg Pincus, Bessemer

Bengaluru: Financial software supplier Perfios has raised Rs 520.8 crore (or roughly $70 million) in a new funding spherical led by current buyers Warbug Pincus and Bessemer India, in response to regulatory filings accessed by ET.

In line with the filings, Pear Valley Investment, an affiliate of Warburg Pincus Asia, has invested round Rs 409.22 crore (roughly $54.4 crore) within the entity, Whereas Bessemer India has invested Rs 111.6 crore (roughly $14.8 million).

The proceeds of the funding shall be used for financing the acquisition of different firms, capital expenditure, and dealing capital necessities, Perfios mentioned in its regulatory filings.

With this funding, Warburg continues to be one of many largest shareholders in Perfios with a 41.6% stake. The 2 cofounders, Debshish Chakraborty and VR Govindarajan, now maintain 7.3% and seven.5%, respectively, whereas long-time investor Bessemer holds 32.1%.

Perfios final raised funds in November 2019 when it scooped up $50 million from Warburg Pincus and Bessemer Enterprise Companions.

The Bengaluru-based startup gives a software program know-how platform to monetary establishments, serving to them extract, combination and analyse monetary knowledge to enhance credit score evaluation. It additionally helps monetary establishments create stories and monitor fraud by analysing monetary knowledge together with financial institution statements, taxes and enterprise financials.

Perfios couldn’t be instantly reached for remark. Inc42 first reported on Perfios’ funding on Friday afternoon.

In a unprecedented basic assembly on February 10, the corporate additionally sought the board’s approval to lift Rs 300 crore (roughly $40 million) by issuance of non-convertible debentures.

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