Perfios eyes US, Europe expansion in 9-12 months: CEO Sabyasachi Goswami

economictimes.indiatimes.com:

Perfios, which provides technology services to financial institutions, is starting to see demand from human resource (HR) firms and ecommerce enterprises, said its chief executive, Sabyasachi Goswami.

“There are our onboarding and decisioning (decision-making) capabilities being used in HR and ecommerce industries…These (adjacent industries) can be very significant (opportunity), provided we focus on them,” Goswami told ET.

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The software-as-a-service startup has been chalking out plans to enter the US and European markets next year.

According to Goswami, almost 10% of the firm’s revenue can come from these adjacent industries in the next two to three years.

Perfios recently raised $229 million in secondary and primary capital in a round led by Kedaara Capital.

Earlier, Perfios was largely used by financial institutions to fetch customer data and for its data aggregation platform. The company gradually diversified its product offerings to insulate itself from new regulatory frameworks, such as those governing account aggregators (AAs).

Licensed AA entities are platforms that help in secure exchange of data between consumers and financial institutions. Perfios has a regulatory approval to operate as an AA now.
In recent times, Perfios has doubled down on new products, and even entered newer segments such as insurance and capital markets.

As the 2008-incorporated fintech firm eyes expansion, it is looking to grow its earnings before interest,