Perfios acquires debt recovery platform, second acquisition in a month

B2B SaaS firm Perfios on Tuesday acquired debt management and collections platform CreditNirvana for an undisclosed amount, making its second acquisition in just over a month. The software as a service (SaaS) unicorn had acquired banking financial crime management firm Clari5 in February.

 

The inorganic push comes as the company plans to complete its value chain in financial offerings in the business-to-business (B2B) sector, from underwriting to debt recovery.

 

“The collection engines complement Perfios’ data intelligence and decisioning platforms. We were present in sourcing, onboarding, due diligence, underwriting, fraud and risk. What was missing in the entire value chain was the final leg: debt recovery and collections,” Sabyasachi Goswami, chief executive officer (CEO), Perfios, told Business Standard.

 

CreditNirvana works in the debt collection and recovery sector. It utilises artificial intelligence (AI) and predictive analytics to automate the collections lifecycle, from early-stage delinquency management to legal recoveries.

 

“This partnership enables us to enter new markets, offer more sophisticated AI-driven solutions, and set new benchmarks in data-driven debt management and recovery,” said Raj MKK, founder and CEO, CreditNirvana.

 

When asked whether the market was experiencing a correction in company valuations regarding mergers and acquisitions (M&A), Goswami emphasised that the deal was driven by a strategic initiative.

 

“Whenever we look at any kind of M&A, it has always been more strategic and not opportunistic. Every acquisition that we look at should add clear capability, depth or accelerate our market reach. And our focus is how we can look at adding to the product roadmap and what the core adjacency within banking, financial services and insurance (BFSI) is,” he said.

 

The company had previously acquired banking and financial intelligence provider Karza in 2022.

 

Perfios raised $80 million in a series D funding round in March last year, according to market intelligence platform Tracxn. The firm has raised $450 million in funding to date, data shows.

 

Goswami added that the recent acquisitions did not require any separate fundraise.