Bengaluru-based SaaS firm Perfios has acquired fraud-detection platform Clari5 (CustomerXPs) for an undisclosed amount, further strengthening its financial crime management solutions for banks, NBFCs and fintech companies. The deal, announced on 7th February, 2025, comes amid growing demand for sophisticated fraud detection tools as digital payment fraud surges.
Following the acquisition, Clari5 will operate as a wholly owned subsidiary of Perfios, with its leadership team continuing to manage operations independently.
Sabyasachi Goswami, CEO, PErfios, said, “The acquisition of Clari5 marks a significant milestone in our journey to build a comprehensive fraud and risk management ecosystem. Clari5’s real-time financial crime management platform complements Perfios’ mission to provide secure and scalable solutions.”
Clari5 specialises in enterprise fraud management (EFRM), anti-money laundering (AML) and risk intelligence solutions. It processes over 10 billion transactions monthly and manages over 1 billion accounts across more than 15 countries.
Rivi Varghese, CEO, Clari5, too shared his opinion. He stated, “This partnership enables us to expand our reach, accelerate product innovation and strengthen our ability to help financial institutions combat financial crime with unmatched speed and precision.”
The acquisition positions Perfios alongside industry players such as IDfy, Signzy, Bureau, Hyperverge and newer entrants like Digitap, Surepass, BeFiSc and Ongrid—companies that are developing advanced fraud detection tools for financial institutions, e-commerce platforms, gaming apps and even matrimonial services.
Perfios, which became a unicorn in 2024 after raising $80 million in a Series D1 round from Teachers’ Venture Growth (TVG), has been aggressively expanding its offerings, particularly in international markets. In September 2023, it acquihired Chennai-based open finance platform Fego.ai. The company now operates in 18 countries and serves over 1,200 financial institutions with software solutions for underwriting, onboarding, decision-making and risk management.
Perfios reported a 9.2X surge in net profit for FY24 at Rs 71.67 crore, driven by a 37.1 per cent increase in revenue to Rs 557.8 crore. Its domestic operations contributed Rs 505.6 crore, while international revenue stood at Rs 52.21 crore..
With this acquisition, Perfios aims to solidify its position in financial crime prevention, offering advanced fraud detection and risk management solutions to financial institutions worldwide.
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