Perfios, a SaaS-based B2B fintech firm, has acquired CustomerXPs for an undisclosed amount.. Speaking of the latter, it is a fraud detection platform - Clari5. Clari5 will become a wholly owned subsidiary of Perfios with this acquisition. It has around 1,500 employees, currently. Also to note, the Clari5 leadership team will continue their operations as an independent entity within the group.
Clari5 provides a range of solutions to banks which encompasses enterprise fraud management, anti-money laundering, customer due diligence, customer looped alert management service, payment fraud reporting, loan origination, identity resolution and monitoring.
Since its inception in 2006, Clari5 has successfully raised around USD 3.9 million in equity funding. Furthermore, Clari5 reported a net profit of Rs 3.4 crore with a revenue of Rs 76.5 crore in FY24.
If we speak of Perfios, it helps financial institutions with revenue analysis, automate customer onboarding, fraud detection, and verification. It has been catering to sectors which include consumer lending, SME lending, and wealth management. Currently, the company has its presence across 18 countries, wherein, it supports over 1,200 institutions.
This Bengaluru-based fintech firm also acquihired Chennai-based open finance platform Fego.ai. earlier in September 2023. Perfios has turned into a unicorn with a USD 80 million round in March last year.
As per a credible data intelligence platform, Perfios’ revenue from operations grew from Rs 407 crore in FY23 to Rs 557.8 crore in the last fiscal year (FY24). Also to note, the company’s profit after tax (PAT) jumped 9.2X year-on-year to Rs 71.67 crore, during the period.
