SUMMARY

Fintech SaaS startup Perfios has acquired CustomerXPs, the parent entity of banking fraud management startup Clari5

However, Perfios has not disclosed the financial terms of the deal

With this acquisition, Perfios aims to strengthen its fraud and risk management (FRM), fuel company’s product-led growth and solidify its footprint in the financial segment

Fintech SaaS startup Perfios has acquired CustomerXPs, the parent entity of banking fraud management startup Clari5, to strengthen its position in the domestic as well as global markets.

However, Perfios has not disclosed the financial terms of the deal.

With this acquisition, Perfios aims to strengthen its fraud and risk management (FRM), fuel company’s product-led growth and solidify its footprint in the financial segment across its key markets including Middle East, North Africa and Southeast Asia.

“The acquisition of Clari5, a leader in EFRM & AML, marks a significant milestone in our journey to build the most comprehensive fraud and risk management ecosystem,” Perfios chief executive officer Sabyasachi Goswami said.

Founded by Rivi Varghese, Balaji Suryanarayana and Aditya Lal in 2006, Calri5 is a financial crime risk management company, which leverages automation, AI and machine learning to offer fraud management solutions. It claims to serve more than 1 Bn accounts and 10 bn transactions currently.

On the other hand, Perfios was founded in 2008 by VR Govindarajan and Debasish Chakraborty. The Bengaluru-based company specialises in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring and more. It operates in the B2B segment, serving more than 1000 financial institutions. 

The company turned unicorn in 2024, after raising $80 Mn (INR 663 Cr) from Teachers’ Venture Growth. In September 2023, it raised  $229 Mn in its Series D funding round led by Kedaara Capital.

Perfios posted a 819.2% year-on-year jump in its consolidated net profit at INR 71.7 Cr in the FY24 on the back of a healthy growth in its topline and higher margins. Its Revenue from operations jumped 37.1% to INR 557.8 Cr during the year under review from INR 406.8 Cr in FY23.