Fintech-focused software-as-a-service (SaaS) company Perfioz on Wednesday said it has raised $80 million from Ontario Teachers’ Pension Plan investment firm Teachers Venture Growth (TVG).
Sources say that with this new investment the valuation of the company will increase to beyond $1 billion. Perfioz will be the second company to become a unicorn in 2024. Earlier, Bhavish Aggarwal’s AI startup firm Prakashchit had got the status of Unicorn.
Companies or startups with a valuation of $1 billion are called unicorns. Perfioz said it planned to continue its expansion into markets such as Southeast Asia, Middle East Asia and Africa.
The company will also use the recently raised funds for partnerships or acquisitions. Following this investment, Darius Vakil, Director, TVG India, will join the board of Perfioz as the nominee of the Ontario Teachers’ Pension Plan.
The Bengaluru-based company had raised $229 million from private equity investor Kedaara Capital in September 2023 at a valuation of $901 million, Traxon data showed. In the Series C round, the company had raised $70 million from Warburg Pincus, Bessemer Venture Partners and other investors in 2022.
First Published – March 13, 2024 | 11:24 PM IST
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