Bengaluru-based Perfios has quietly become one of India’s most consequential fintech infrastructure companies — the invisible layer powering how lenders decide who gets a loan and how insurers process claims.
The company sells software and analytics tools to banks, NBFCs, insurers and fintechs, helping them verify bank statements, assess borrower eligibility, automate underwriting and handle insurance claims. As digital lending regulations tighten and financial institutions race to cut turnaround times, demand for exactly this kind of plumbing has surged. Perfios now counts more than 1,000 financial institutions globally as clients.
Under CEO Sabyasachi Goswami, the company has expanded well beyond its core lending infrastructure into insurance technology and account aggregation. A string of acquisitions has sharpened its edge: Credit Nirvana brought AI-powered debt collections, Clari5 added financial crime detection, and last year’s purchase of IHX — a healthcare information exchange that processes over 40% of India’s cashless health insurance claims — gave Perfios a serious foothold in health insurance infrastructure.
Investors have taken note. A $229 million Series D led by Kedaara Capital was followed within six months by an $80 million cheque from Ontario Teachers’ Pension Plan’s venture arm, TVG, which tipped Perfios into unicorn territory.
The company has also restructured for its next phase. Nitin Chugh has been appointed MD and Group CEO to lead the broader Perfios Group — spanning Perfios, Clari5, Credit Nirvana and IHX — while Goswami continues to run the core business.
As India’s financial system digitises deeper, Perfios is making a deliberate bet: that the most durable position in fintech isn’t the consumer app at the front — it’s the infrastructure no one sees at the back.
