Perfios is an online real-time credit-decisioning platform that announced a 37.1 percent increase in operational revenue to Rs 557.8 crore in FY24. The startup provides a digital platform offering revenue analysis, verification, and automated customer onboarding to financial institutions, including SME lending, Wealth Management, and Consumer Lending. Software coding and maintenance services are the company’s major source of revenue.
Entrackr mentioned in its report that the firm also earns income through subscription fees, gains on investment, and bank deposits. The income from services saw a 29.3 percent increase and stood at Rs 472.2 crore, while the company collected Rs 3.57 crore from subscription fees in FY24. The gain on investment and bank deposits brought the total revenue to Rs 569.47 crore in this financial year.
The company has secured over 450 million USD across multiple funding rounds since its inception, including $80 million raised during its series D funding round from Ontario Teachers’ Pension Plan at a valuation of 1 billion USD. The startup data intelligence platform, tracxn mentioned that Warburg Pincus is the largest institutional investor of the firm.
The Bengaluru-based startup provides users financial data analysis software and tools while offering SME lending solutions. The online platform uses advanced technologies to provide a seamless user experience. This fintech unicorn serves in the B2B and SaaS market segments. Perfios posted an 820 percent increase in its profit to Rs 71.67 crore in this financial year. The employee benefits decreased and stood at Rs 218 crore in the same duration.
The cost of amortization and depreciation saw a 13.1 percent increase and stood at Rs 36.3 crore in this fiscal year. The total expenditure of the firm increased by 28.2 percent to Rs 495.5 crore in the same duration. The fintech firm posted a 36.4 percent YoY increase in its employee benefits bringing the total expenditure to Rs 495.5 crore in FY24. The company controlled its losses and saw an increase in its profit.
The firm aims to control its loss by cost-cutting measures. The legal fees, professional, technology, advertising, and other overheads increased, adding Rs 161 crore to the total expenditure. The EBITDA margin also improved and stood at 20.58 percent while the ROCE was around 7.07 percent. The company offers its services across 18 countries with 1,200 institutions. Perfios faces competition from other fintech platforms such as Jumio and TransUnion.
Conclusion :
The Fintech unicorn Perfios announced a 37.1 percent increase in its operations from revenue to Rs 557.8 crore in FY24. This firm offers data aggregation APIs and a credit-decisioning platform. The software coding and maintenance services and income from gains on investment are the firm’s primary sources of revenue.
The profit also saw an 820 percent increase to Rs 71.67 crore in FY24. The total expenditure of the firm saw an increase of 28.2 percent and crossed Rs 495.5 crore in the same duration The company has secured over 450 million USD across multiple funding rounds to date.
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