Indian B2B Software-as-a-Service (SaaS) fintech Perfios has acquired Clari5, a financial crime detection and risk management platform developed by Bengaluru-based CustomerXPs.Perfios acquires Clari5Founded in 2006, Clari5 offers a suite of solutions for fraud mitigation, risk management and anti-money laundering (AML), helping banks detect, investigate and prevent financial fraud.Following its acquisition, the financial terms of which have not been disclosed, the company will continue operating independently as a wholly-owned subsidiary of Perfios.Rivi Varghese, founder and chairman of Clari5, says the deal will enable the company to expand its reach and will “strengthen our ability to help financial institutions combat evolving financial crime”.Perfios provides data analysis and aggregation tools to help banks, fintechs and other financial institutions enhance their origination, onboarding, decisioning, underwriting and monitoring processes. The company claims its SaaS platform is currently being used by more than 1,000 financial institutions across 18 countries.Perfios secured an $80 million investment from Teachers’ Venture Growth, the investment division of Ontario Teachers’ Pension Plan, in March last year, which elevated the company to unicorn status.Prior to this, the fintech bagged a $229 million Series D investment from Kedaara Capital in September 2023, the same month it acquired open finance platform Fego.ai.
Mar. Feb 11th, 2025
