Newly minted Bengaluru-based fintech unicorn Perfios plans to acquire Karza Technologies for more than $80 million in an all-cash deal.
The startup recently added to its coffers near $70 million in a funding spherical from its current traders, Warburg Pincus and Bessemer Enterprise Companions, to enter the unicorn club.
According to reports, in a meeting held in January this year, the startup decided to acquire 100 percent of the issued, subscribed and paid-up share capital of a risk management startup Karza. Per an RoC filing, Perfios is acquiring Karza for a total of $ 80 million.
As part of the deal, Perfios will be acquiring 100 percent of the issued, subscribed, and the paid-up share capital of Karza for $73.5 million and an additional $5.6 million towards the subscription of equity securities of Karza Technologies.
Sources privy to the matter said that the deal is in the works but is yet to be finalized. The company said that Karza’s three founders would continue to run the startup under Perfios’ leadership post the acquisition. Besides, all employees of Karza will remain with the company even after the acquisition.
It is interesting to note that Perfios had acquired FintechLabs in November 2019, the same month it had announced the raising of $50 million in its Series B round from Warburg Pincus and Bessemer Venture Partners. Even now, the startup is acquiring Karza when it raised $70 million at a unicorn valuation.
Perfios makes lending sensible
Founded in 2009 by V R Govindarajan and Debasish Chakraborty, Perfios is a credit score decisioning and analytics startup that operates in B2B and B2C segments. The startup claims to extract, categorize, and analyze 1000’s information sorts in real-time, thus serving to monetary establishments make lending selections in a clever method.
It claims to have over 500 million transactions categorized monthly, appears to be like 1,700 information codecs, and is supported by 735 establishments. Not too long ago, the startup has acquired Karza Applied sciences Non-public Restricted for over $80 million.
The startup has a worldwide presence in 18 international locations together with South Africa, Eire, Czech Republic, UAE, Bangladesh, and Indonesia.
