This news comes on the heels of its Series C round. The company plans to use the funding to explore acquisition opportunities. Here are the top-line bullets you need to know.
Perfios, a financial statement analysis software provider, has raised $70M in a Series C. The round drew participation from Bessemer Venture Partners and Warburg Pincus.
HOW’S THE COMPANY PERFORMING?
- India-based Perfios enables financial institutions to collect and analyze structured and unstructured data in order to automate lending decisions.
- The startup’s platform is used by 735 companies (including 200+ lenders in India).
- The startup categorizes 500M+ transactions each month and caters to 1.7K data formats.
- The company generated $9.9M in revenue in 2021.
- The company has a presence in 18 countries, including India, South Africa, the UAE, Bangladesh, Ireland, Vietnam, and Indonesia.
WHY DOES THE MARKET MATTER?
- The global credit rating software market is expected to reach a value of $1.9B by 2030, growing at a CAGR of 16.5%, according to Allied Market Research.
- Financial institutions are increasingly turning to credit rating software in order to mitigate loan transaction risk and increase profitability.
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