Perfios is a B2B SaaS fintech company. The company has recently announced that it has acquired Credit Nirvana. It is also an AI platform that provides debt management and collection services. The financial details of this deal have not yet been disclosed, but it is Perfios’ second major deal this month. Earlier, the company acquired Clari5, which is a financial crime management firm.
Move to Boost Debt Management
Credit Nirvana was founded in 2019, the company provides AI and predictive analytics to automate the debt collection lifecycle from early-stage delinquencies to legal recoveries. The Bengaluru-based company manages a collection portfolio of over USD 9 billion (~INR 78,552 crore) and handles over 4.2 crore loan accounts for banks, NBFCs and asset reconstruction companies.
With this acquisition, Perfios aims to enhance its full-stack fintech offerings by integrating Credit Nirvana’s collection engine with its existing products. Sabyasachi Goswami, CEO of Perfios, said, “This is a strategic move to expand our product suite and strengthen our debt management and collections capabilities. We will create new efficiencies in debt management and recovery processes.”
Raj MKK, Founder and CEO of Credit Nirvana said, “Perfios’ deep expertise in financial technology and strong commitment to innovation gives us the scale and technology to accelerate our growth. This partnership will help us to enter new markets, offer more sophisticated AI driven solutions and set new benchmarks in data-driven debt management and recovery.”
Perfios’ Fintech Growth
Perfios, founded in 2008, is a leading player in the banking, financial services and insurance (BFSI) sector. The company provides software solutions to financial institutions for loan origination, underwriting, decision making and monitoring across 18 countries. It processes over 8.2 billion data points annually for credit decision-making and financial services.
Perfios’ acquisition spree is a testimony to its strategy of becoming an end-to-end provider for financial institutions. Last year, the company raised USD 80 million (~INR 698.24 crore) from Teachers’ Venture Growth and its valuation crossed USD 1 billion (~INR 8,730 crore). With its upcoming INR 500 crore IPO, Perfios is looking to grow further in the fintech space.
Debt Collection Market and AI Disruption
India’s debt collection industry is undergoing a digital transformation. Lenders in the country spend over USD 7 billion annually on debt recovery and collections. Startups like Credgenics, Creditas and Decentro are using AI and automation to optimise recoveries, reduce delinquencies and streamline loan collections.
Credit Nirvana which had raised USD 2.2 million (~INR 19.20 crore) from Cornerstone Venture Partners Fund will continue to operate as a wholly owned subsidiary of Perfios with its nearly 100-member team working independently.
Final Thoughts
Perfios’ latest acquisition reinforces its position in the financial technology sector. As AI-driven solutions continue to reshape debt management and collections, Perfios can easily capitalize on the increasing demand for digital financial services. The Perfios-Credit Nirvana deal will not only enhance the company’s product portfolio but also cement its standing as a dominant force in the fintech industry, both in India and globally.
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