Merisis advises Perfios, a leading fintech data analytics and aggregation platform, on its fund raise from Bessemer Venture Partners

April 4, 2017

Merisis Advisors is pleased to announce that its client, Perfios Software Solutions, a leading credit and personal finance data aggregation and analytics platform, has raised INR 40 crore ($6.1 million) from Bessemer Venture Partners. Merisis was the exclusive advisor to Perfios in the transaction.Perfios is a technology data platform with focus on financial data analysis and aggregation for credit assessment and personal finance. Perfios also has its own personal finance management solution and provides financial data aggregation APIs, which help power personal finance or money manager applications of fintech companies. The company also works on other use-cases such as with recruitment consultants to verify pay slips and financial data of candidates, as well as matrimonial sites to verify income details and the likes. The Bengaluru-based firm was founded in 2009 by V.R. Govindarajan and Debasish Chakraborty, who were among the founding members at Aztecsoft, which was acquired by Mindtree.Perfios’ core technology helps more than 100 banks, NBFCs and fintech companies in aggregation and analysis of financial data such as bank statements and business financials, to help generate a credit report for digital lenders and shorten their turnaround time to decide on an application. The company’s clients include leading banks such as HDFC Bank, Yes Bank and Axis Bank, NBFCs such as Capital First and Bajaj Finance, and new-age fintech companies such as Capital Float and Lendingkart.The funds will be used for three core areas – team expansion from company’s current strength of 55 people, international expansion by strengthening the presence in the United Arab Emirates and Southeast Asia where Perfios already serves clients, and potential acquisitions of tech startups.This is Bessemer’s first investment in a fintech company in India. “We think of Perfios as an embedded intelligence product that has wide applications in the fintech space. We are excited since the company can combine disparate data sources which will help it create a long-enduring moat by becoming a value-added provider to the fintech ecosystem,” Aakash Goel, VP at Bessemer Venture Partners, India said.Commenting on the transaction, Sumir Verma, Managing Director, Merisis Advisors, said “Through our understanding of the fintech sector, we knew Perfios to be the ubiquitous choice for fintech and financial services companies for their credit decisions. Perfios is poised to grow exponentially with India’s push towards a digital economy and we are delighted to have helped Perfios in their first institutional round of funding.”About Bessemer Venture Partners:Bessemer Venture Partners is a venture capital firm with more than $4.5 billion in assets under management. It provides seed, early, expansion, growth and late stage capital to companies across the world. The firm is headquartered in Silicon Valley with additional offices in Bangalore, Boston, Israel, New York and San Francisco. For more information, visit www.bvp.com.About Merisis Advisors:Merisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. The firm also advises asset management companies on follow-on fund raise and exit for their portfolio companies. Merisis focuses on the technology, consumer and related sectors, where they have built significant domain knowledge and transaction experience. For more information, please visit us at www.merisisadvisors.com or contact fazal@merisis.in.

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