Ontario Educators Create a Groundbreaking Unicorn in Indian Financial Technology: Perfios

Teachers’ Venture Growth, the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, is investing $80 million in Perfios, an Indian fintech that provides real-time credit underwriting solutions to banks and other financial institutions. The new investment values Perfios at a valuation of over $1 billion. Bengaluru-based Perfios provides real-time data aggregation and analysis tools to financial institutions, enabling them to streamline their customer journeys and make more informed decisions. Perfios said it delivers 8.2 billion data points to banks and other financial institutions every year to facilitate faster decisioning, and processes 1.7 billion transactions a year with an AUM of $36 billion. Ontario Teachers’ Pension Plan, one of Canada’s largest pension funds, has ramped up its interest in India in recent years.

Teachers’ Venture Growth, the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan, is investing $80 million in Perfios, an Indian fintech that provides real-time credit underwriting solutions to banks and other financial institutions. The new investment values Perfios at a valuation of over $1 billion.

Perfios, known as the young company, with just over a decade of experience in the market, raised a $229 million funding round only last September. Now, Teachers’ Venture Growth has recognized the potential and made a significant investment that aims to support the Indian startup’s international expansion and inorganic growth opportunities, such as acquisitions. In fact, Perfios has already raised a total of $464 million in primary and secondary transactions since its establishment. Perfios has a grand plan to take a bigger step in its journey by going public next year as it previously announced.

Based in Bengaluru, Perfios provides advanced data aggregation and analysis tools to financial institutions for better decision making. Its robust algorithms enable banks, fintechs, insurance firms, and other financial institutions to reduce risk, identify fraud, and enhance the overall quality of their portfolio, bolstering their processes.

Perfios delivers 8.2 billion data points annually to its partner banks and other financial institutions, resulting in accelerated decision making. The company processes approximately 1.7 billion transactions every year, managing an AUM (Assets Under Management) of $36 billion. This achievement has made Perfios the second unicorn from India in 2021.

“We are excited about the growing opportunities within the B2B enterprise tech space in India,
said Kelvin Yu, Senior Managing Director and Head of Teachers’ Venture Growth in Asia, in a statement.

The Ontario Teachers’ Pension Plan, one of the largest pension funds in Canada, has been increasing its investment and interest in India in recent years. In fact, the fund also provided backing to another Indian unicorn, Xpressbees, last year. Having already invested over $3 billion in India, the fund plans to deploy a significant amount in the country by 2030 as part of its broader goal to deploy $300 billion in specific key markets.