B2B SaaS fintech company Perfios has raised $80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan.

The company plans to utilise the funds to explore acquisitions and international expansion. The software-as-a-service (SaaS) start-up will also invest in a tech stack to manage customer services across banking, insurance and embedded commerce.

“This investment will further help us in strengthening the digital transformation journey of our partners, thereby powering financial inclusion and providing access to financial services to billions across the globe. I am glad to have Teachers’ Venture Growth as a new investor in our Perfios family,” said Sabyasachi Goswami, CEO, Perfios.

TVG India Director Darius Vakil is set to join Perfios’ board as a nominee director.

Series D round

This funding comes six months after the Bengaluru-based company had raised $229-million Series D round. With this, the firm has also crossed the $1-billion valuation mark and entered the unicorn club becoming the second firm in 2024 after Krutrim.

Founded in 2008 by V.R. Govindarajan, and Goswami, Perfios is a B2B SaaS company serving the banking, financial services and insurance industry in 18 countries.

With Bessemer Venture Partners joining in 2017 during the Series-A round, Warburg Pincus in 2019, and Kedaara Capital’s investment last year, Perfios has garnered significant backing from investors over the years.

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