Karza Technologies, a banking and financial intelligence solution provider, will be purchased for around Rs 600 crore by Perfios Software Solutions, a Bengaluru-based fintech software firm backed by Warburg Pincus and Bessemer.
Perfios raised around Rs 520 crore from Warburg Pincus and Bessemer Venture Partners, as well as some existing investors, earlier this month. The funds will be used to partially fund the acquisition of Karza Tech. Through its superior data engineering and deep tech applications, Karza provides solutions that enable onboarding automation, systemic fraud prevention, and business intelligence. According to the regulatory filing, the largest shareholder in Perfios is Warburg Pincus, which owns 41% of the company, followed by Bessemer, which owns 32.1 percent.
Perfios is a credit decisioning and analytics startup that operates in both the B2B and B2C segments, and was founded in 2009 by VR Govindarajan and Debasish Chakraborty.
“Karza’s deep focus in onboarding automation and fraud prevention through superior data engineering and deep tech application make them a unique player in the market,” said Govindarajan.
Perfios has also raised approximately $100 million from existing investors Warburg Pincus, Bessemer Venture Partners, and certain new investors. The company plans to use the capital to continue to innovate and invest in best-in-class products in the credit decisioning, analytics, fraud and risk space, and scale up world class engineering and data science teams, among others.
