Ontario Teachers’ Pension Plan, represented by its investment branch, Teachers’ Venture Growth, has made a significant strategic move by investing $80 million in the Indian fintech company, Perfios. This investment move pushes the valuation of Perfios past the $1 billion mark, propelling it into ‘unicorn’ status. This move is designed to enhance Perfios’ platform, augmenting its technology and product offerings, and facilitating expansion into new markets.
Established 15 years ago in Bengaluru, Perfios has managed to raise a substantial $464 million through several funding rounds. The company is considering launching an Initial Public Offering (IPO) as early as next year to expand its influence globally, with ongoing feasibility studies for potential acquisitions also on the plate.
Perfios provides real-time financial analysis and data integration tools, helping clients like banks, insurance, fintech corporations, and other financial operators make informed decisions. It has succeeded in streamlining financial proceedings, creating robust strategies and predicting market trends, thereby becoming a reliable partner in the burgeoning finance industry.
The company CEO, Sabyasachi Goswami, appreciates the continuous trust of the firm’s partners and the dedicated efforts of the company’s employees that have been instrumental in its success. Emphasizing the importance of steadfast commitment and core values in driving future growth, he is optimistic about overcoming challenges and moving the company forward.
Presently, Perfios provides 8.2 billion data points to financial institutions annually, processes 1.7 billion transactions, oversees $36 billion in assets, and has significant clients like HDFC and Kotak Bank. The company, with a team of 300, is significantly contributing to the digital transformation of the financial services industry. Moving forward, it has ambitious plans to expand its services and develop innovative strategies to maintain its strong market position.
The Ontario Teachers’ Pension Plan, with an investment of more than$3 billion in India, plans to commit more by 2030. This forms part of its broader strategy to invest $300 billion in selected global markets ensuring a balanced portfolio and encouraging long-term benefits and reduction of potential risks. Committed to sustainable growth and diversification of investments, the pension plan identifies the Indian technology sector as having significant potential for gains considering its rapidly evolving landscape.
Boasting the second-largest population globally, India offers broad opportunities for digital tech expansion and innovative startups. With this investment, the Ontario Teachers’ Pension Plan is eager to be part of this significant growth and aims to inject around $300 billion worldwide in carefully selected markets by 2030.
