Fintech startup Perfios restructures its leadership team
Perfios, a fintech company based in Bengaluru, has undergone significant changes in its top leadership. One of its Co-founders, Debasish Chakraborty, has transitioned from his position as the Chief Technology Officer (CTO) to a mentoring role for the technology team while retaining his seat on the board. Sumit Nigam, formerly the Head of Engineering at BigBasket, a company owned by Tata Digital, has assumed the role of CTO at Perfios. Furthermore, the company has appointed Anu Mathew as its inaugural Chief People Officer, who previously held the same role at Pine Labs, a digital payments firm.
The recent changes in Perfios' leadership are in preparation for a public listing in the next 18-24 months and for expanding its global presence, according to the company's CEO, Sabyasachi Goswami. Goswami assumed the CEO role in August 2022, succeeding Co-founder V R Govindarajan, who currently serves as the executive chairman. Having been with the company since 2016, Goswami previously held the position of Chief Business Officer. "Getting ready for a public listing and global expansion necessitates not only strengthening the executive team but also enhancing the organization at various levels. This has been an ongoing and gradual process", Goswami explained.
In the future, Perfios, which boasts approximately 1,700 employees, may consider hiring more senior executives to bolster the company from the perspective of an initial public offering (IPO). "Preparation for a public listing involves addressing various aspects", he added. Established in 2008, Perfios is a software technology provider that serves over 1,000 financial institutions across 18 countries, aiding them in extracting, aggregating, and analyzing financial data to enhance credit assessment. The company also assists these institutions in generating reports and monitoring fraud by analyzing financial data, including bank statements, taxes, and business financials.
Perfios offers more than 75 platforms and products designed to facilitate various processes such as onboarding, underwriting, and monitoring. According to the company, it processes a total of 1.7 billion transactions annually. In September, Perfios announced a $229 million fundraising round from Kedaara Capital, involving a combination of primary and secondary share sales. In October, the company introduced an employee stock ownership plan valued at Rs 154 crore (approximately $18.5 million).
