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Today: Jun 13, 2024

TVG invests $80m in Indian fintech Perfios according to FinTech Futures.

1 min read

TLDR:

Indian B2B Software-as-a-Service fintech Perfios secures an $80 million investment from Teachers’ Venture Growth (TVG). The investment will be used to strengthen global presence and tap into growth opportunities. Perfios, with a valuation of over $1 billion, provides data analysis tools to financial institutions. TVG’s investment in Perfios marks its second direct investment in India.

Indian fintech Perfios has recently received an $80 million investment from Teachers’ Venture Growth (TVG), the growth investment arm of Ontario Teachers’ Pension Plan. The firm plans to use this funding to strengthen its global presence and tap into growth opportunities.

Perfios, based in Bangalore and currently operating in 18 countries, offers data analysis and aggregation tools to assist banks, fintechs, and other financial institutions in improving their processes. With a reported valuation of over $1 billion, Perfios processes 1.7 billion transactions annually and manages assets worth $36 billion.

This investment from TVG follows Perfios’ $229 million Series D funding round last September. TVG’s backing of Perfios is significant as it marks the firm’s second direct investment in India. Perfios aims to use this investment to further its digital transformation journey and enhance access to financial services globally.