Warbug Pincus-backed Perfios buys fintech firm Karza
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Software-as-a-service (SaaS) firm Perfios on Wednesday said it has acquired financial technology platform Karza Technologies for an undisclosed amount. 

The acquisition comes two weeks after VCCircle had reported that the platform raised $70 million (almost Rs 520.83 crore) from Warbug Pincus and Bessemer Venture Partners as a part of its Series C round. 

Perfios, then, in regulatory filings with the Ministry of Corporate Affairs (MCA) had said that it will use the funds for financing acquisition of other companies, capital expenditure and working capital requirements.  

The firm had not commented on the fundraise then, but on Wednesday said that it raised $100 million recently.  

Perfios, a real-time credit decisioning and analytics focused product platform claims to have more than 350 customers including banks, non-bank lenders and fintech startups in India, Southeast Asia and Middle East and Africa.  

The company’s core technology platform enables aggregation and analysis of all types of financial data to help generate a wide range of consolidated insights across credit assessment, monitoring, fraud analytics, personal finance management and account aggregation space. 

Karza, on its part, offers solutions in the fields of digitization, onboarding automation and systemic risk and fraud mitigation.

Perfios said that Karza has been a market pioneer in B2B (business-to-business) SaaS space for offering business intelligence insights, which it enables through its superior data engineering and deep tech applications.  

Karza claims to have a diversified portfolio of over 450 customers across lending, banking, payments, insurance and fintech companies. 

With this buyout, Perfios said it will be able to offer a ‘one-stop-shop-solution' to its B2B customers, which will include processes like onboarding, verification, credit assessment, fraud analytics, monitoring, collections, LOS (loan origination system) solutions, account aggregator solutions and hyper-personalized AI (artificial intelligence)-based offerings.  

“Karza’s deep focus in onboarding automation and fraud prevention through their superior data engineering and deep tech application make them a unique player in the market. Their solutions and expertise will help Perfios innovate faster,” said V R Govindarajan, Co-Founder and Chief Executive Officer of Perfios.  

“Together, there is so much synergy that the combined entity can disrupt the market and provide huge value to our customers that would not have been possible if we had remained independent entities,” he added.  

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