Warburg Pincus, Bessemer invest India's Perfios

Warburg Pincus is participating as a new investor in the company, while Bessemer is re-upping, having provided an approximately $6 million Series A in 2017. A number of unspecified angel investors also contributed to the Series B.

Perfios operates a financial data analysis platform for a client base including banks, non-bank financiers, mutual funds, insurance companies, wealth management firms, digital lending services players, and other fintech providers. The start-up describes itself as “the leader in real-time credit decisioning and analytics,” with a network of some 200 finance industry partners.

According to a release, Perfios will use the fresh capital for technology development with a focus on customer experience and security. It will also advance plans for international expansion in regions where the company already serves a substantial number of customers, including Southeast Asia, the Middle East and North Africa. This effort is expected to include acquisitions.  

Bessemer, which maintains an office in Mumbai and invests extensively in India, is currently investing early-stage start-ups globally via its BVP X fund, which closed last year at $1.8 billion. Warburg Pincus targets the country via a number of vehicles, including its thirteenth global growth fund, which is currently being raised with a target of $13.7 billion.

Technology suppliers for India’s financial services sector typically cite local momentum in consumer spending and online activity as macro drivers of business development. Recent investments in this segment include a $21 million Series B for Groww, which focuses on mutual fund services, and a $200 million round in Fractal Analytics, whose clients include financial institutions.  

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• Topics
• South Asia
• Financials
• Technology
• Early-stage
• Support services
• India
• Warburg Pincus Asia
• Bessemer Venture Partners
• Financial Services