Perfios Becomes Unicorn with $80M Investment from TVG

SaaS financial startup Perfios has reached unicorn valuation after receiving $80 million from TVG, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. With this funding, Perfios plans to pursue acquisitions, global expansion, and tech stack investments to support customer services across banking, insurance, and embedded commerce.

Director of TVG India will become a nominee director on the Perfios board. Perfios is considering an IPO in India to raise roughly $500 million, with plans to enter the US and European markets in 2024. The company also received $229 million from private equity investor Kedaara Capital and has seen significant growth since its founding in 2008.

CEO Sabyasachi Goswami stated that this investment will further strengthen Perfios' digital transformation journey, enabling financial inclusion and access to services globally. The company's onboarding and decision-making capabilities have great potential in HR and e-commerce sectors. Perfios previously received funding from Bessemer Venture Partners and Warburg Pincus.

The $80 million investment raises Perfios' value to a billion dollars, making it the second unicorn of the year in India. The company is set to expand globally and potentially go public, playing a key role in reshaping the fintech landscape.