Perfios FY25: Profit Soars 46% To ₹104 Cr, Revenue Crosses ₹700 Cr

B2B fintech SaaS unicorn Perfios logged a 46% uptick in its consolidated net profit for the fiscal year FY25 to ₹104.3 Cr from ₹71.7 Cr in FY24. This marked the third consecutive year of profitability for the Bengaluru-based startup after reporting its maiden profit of ₹7.8 Cr in FY23. 

Operating revenue for the fiscal under review rose 20% to ₹669.5 Cr in FY25 from ₹557.8 Cr in FY24. Including other income of ₹39.2 Cr, Perfios’ total income for the fiscal year stood at ₹708.5 Cr.

Perfios’ revenue remained firmly anchored in its SaaS business, with service income accounting for more than 95% of the total operating revenue at ₹638.5 Cr in FY25. The remaining ₹31 Cr came from license sales, implementation and related services.

Geographically, India remained Perfios’ dominant market, with domestic revenue growing 14% to ₹575 Cr in FY25 from ₹505.5 Cr in FY24.

Founded in 2008 by VR Govindarajan and Debasish Chakraborty, Perfios enables financial institutions to automate key processes like loan onboarding, credit underwriting and fraud detection. Its technology enables banks and lenders to process loans in under two minutes through real-time data analysis, credit underwriting and fraud detection.

The startup claims to serve more than 1,000 financial institutions, providing more than 75 products and over 500 APIs, processing upward of 8.2 Bn data points annually. 

Recently, Perfios appointed former State Bank of India deputy MD Nitin Chugh as its group CEO and MD.

At Perfios, Chugh will be responsible for overseeing the broader group, including its subsidiaries Clari5, CreditNirvana, and IHX. However, the startup’s core business will continue to be led by Sabyasachi Goswami, who has served as CEO since 2022.

The startup has completed five acquisitions and one acqui-hire since 2022. In 2025 alone, it acquired fraud management platform Clari5 in February, AI-driven collections startup CreditNirvana in March, and healthcare information exchange platform IHX in April. Earlier deals include RegTech startup Karza Technologies and digital lending software provider FintechLabs Technologies, both acquired in 2022, and the 2023 acqui-hire of behavioral financial insights startup Fego.ai.

Over the years, the startup has raised close to $440 Mn from investors like Warburg Pincus, Bessemer Venture Partners, Kedaara Capital, among others. The startup entered the unicorn club in 2024, when it raised $80 Mn from Teachers’ Venture Growth (TVG) at a valuation north of $1 Bn. 

Where Did Perfios Spend In FY25?

The startup’s total expenses for the fiscal year stood at ₹5,610.2 Cr, up 13% from ₹4,955.5 Cr in the previous fiscal.

Employee Benefit Expense: Employee costs remained the largest expense head for the startup in FY25, rising 16% to ₹337.94 Cr from ₹291.16 Cr in FY24. This included ₹25.63 Cr spent on share-based payments (ESOPs).

Cloud Hosting Charges: Spending on cloud infrastructure increased 15.7% to ₹51.51 Cr in FY25 from ₹44.51 Cr in the previous year.

Software Subscription Charges: Expenses on software subscriptions saw a sharp rise of 71%, reaching ₹23.87 Cr in FY25 compared to ₹13.96 Cr in FY24.

Legal And Professional Fees: The startup’s spending under this head grew 5.4% to ₹30.66 Cr in FY25 from ₹29.08 Cr in the previous year.

Data And Processing Costs: Perfios incurred ₹24.88 Cr under this category in FY25, up 4.3% from ₹23.87 Cr in FY24.

Information And Technology Expenses: IT expenses rose marginally to ₹2.41 Cr in FY25 from ₹2.10 Cr in the previous year.

Marketing Expenses: Spending on marketing declined to ₹10.17 Cr in FY25 from ₹12.05 Cr in FY24.

Depreciation And Amortisation: Depreciation and amortisation expenses increased to ₹41.06 Cr in FY25 from ₹36.34 Cr in the previous year.

Travelling And Conveyance: The startup spent ₹8.18 Cr on travel and conveyance in FY25, marking a 25.7% increase from ₹6.51 Cr in FY24.

Bad Debts: Bad debts written off during the year rose sharply to ₹11.65 Cr, compared to ₹0.60 Cr in FY24.

Finance Costs: Finance costs declined to ₹5.61 Cr in FY25 from ₹6.94 Cr in the previous year.

Perfios entered the unicorn club in March 2024 after raising $80 Mn from Ontario Teachers’ Pension Plan’s Teachers’ Venture Growth arm, taking its total funding to over $430 Mn. Its investor base includes Kedaara Capital, Bessemer Venture Partners, and Warburg Pincus.

The startup was also reported to be exploring an initial public offering (IPO) in 2024, though no further updates on its plans have been disclosed since.

The post Perfios FY25: Profit Soars 46% To ₹104 Cr, Revenue Crosses ₹700 Cr appeared first on Inc42 Media.