Perfios, the Bengaluru-based B2B fintech SaaS unicorn, has reported a remarkable 46% increase in its consolidated net profit for the fiscal year FY25, amounting to ₹104.3 Cr compared to ₹71.7 Cr in FY24. This achievement marks the third consecutive year of profitability for the startup, which first reported a profit of ₹7.8 Cr in FY23.
In FY25, Perfios’ operating revenue grew by 20%, reaching ₹669.5 Cr, up from ₹557.8 Cr in the previous fiscal year. With additional income of ₹39.2 Cr, the total income for the year stood at ₹708.5 Cr.
Key revenue sources included:
- SaaS Business: Service income constituted over 95% of total operating revenue, totaling ₹638.5 Cr.
- Other Income: The remaining ₹31 Cr came from license sales, implementation, and related services.
India remained the primary market for Perfios, with domestic revenue increasing by 14% to ₹575 Cr in FY25, up from ₹505.5 Cr in FY24.
Founded in 2008 by VR Govindarajan and Debasish Chakraborty, Perfios specializes in automating essential processes for financial institutions, including loan onboarding, credit underwriting, and fraud detection. The company claims to serve over 1,000 financial institutions, offering more than 75 products and over 500 APIs, and processing over 8.2 billion data points annually.
Recently, Perfios appointed former State Bank of India deputy MD Nitin Chugh as its group CEO and MD. He will oversee the broader group, including subsidiaries such as Clari5, CreditNirvana, and IHX, while Sabyasachi Goswami continues to lead the core business.
Perfios has made significant strides in expanding its portfolio, completing five acquisitions and one acqui-hire since 2022. Notable acquisitions in 2025 include:
- Clari5: Acquired in February for fraud management.
- CreditNirvana: Acquired in March for AI-driven collections.
- IHX: Acquired in April for healthcare information exchange.
Over the years, Perfios has raised nearly $440 million from investors such as Warburg Pincus and Bessemer Venture Partners. The company entered the unicorn club in 2024 after securing $80 million from Teachers’ Venture Growth, achieving a valuation exceeding $1 billion.
FY25 Financial Overview
Perfios reported total expenses of ₹5,610.2 Cr for FY25, a 13% increase from ₹4,955.5 Cr in FY24. Key expense categories included:
- Employee Benefit Expenses: Increased by 16% to ₹337.94 Cr.
- Cloud Hosting Charges: Rose by 15.7% to ₹51.51 Cr.
- Software Subscription Charges: Jumped 71% to ₹23.87 Cr.
- Legal and Professional Fees: Grew 5.4% to ₹30.66 Cr.
- Data and Processing Costs: Increased to ₹24.88 Cr.
- Marketing Expenses: Decreased to ₹10.17 Cr.
- Bad Debts: Rose sharply to ₹11.65 Cr.
Perfios is also exploring an initial public offering (IPO) in 2024, although no further details have been released regarding this plan.
