Overview
Perfios is a B2B SaaS platform for banking, financial services, and insurance companies, offering AI-driven data analysis, verification, and decisioning solutions across 18 countries. The company serves over 1,000 financial institutions including carriers, banks, and NBFCs, providing tools that span the full customer lifecycle from onboarding and identity verification through underwriting, claims processing, and portfolio monitoring.
The platform aggregates both structured and unstructured financial data, combining consented data sharing (via India's RBI Account Aggregator framework) with proprietary AI and ML models to deliver real-time decisions at scale. Insurance-specific modules cover claims automation with straight-through processing (STP), health claims analytics with fraud detection, KYC/KYB onboarding under IRDAI compliance, and underwriting risk assessment. The platform is delivered via REST APIs through the Perfios Hub marketplace, allowing insurers to embed Perfios capabilities into existing systems.
Founded in 2008 and headquartered in Bengaluru, Perfios reached unicorn status in 2024 and raised USD 229M in a Series D round in May 2025 led by Kedaara Capital, bringing total funding to approximately USD 384-440M. The company has expanded through acquisitions including IHX (Indian Healthcare Exchange, April 2025), which processes over 40% of all cashless health insurance claims in India, and Clari5 (February 2025), a banking financial crime management platform.
Products & Services
Bank Statement Analyser
AI-powered tool for extracting, categorizing, and analyzing bank statement data to assess creditworthiness, verify income, and detect anomalies. Used by insurers for financial underwriting and reimbursement claims validation.
Key Features
- Real-time financial ratio calculation and repayment capacity scoring
- Anomaly and fraud detection via ML models
- Income verification for underwriting and claims adjudication
Target Users: Insurance carriers, banks, NBFCs
KYC / KYB Platform
Identity and business verification suite supporting digital onboarding for insurance customers under IRDAI and RBI compliance mandates.
Key Features
- Video KYC (VKYC), liveness detection, and AI-enabled ID verification
- OCR document extraction, OneClick Onboarding, and anti-spoof checks
- Bank account verification for insurance onboarding and reimbursement claims
Target Users: Insurance carriers, banks, NBFCs
Claims Automation
Document extraction, policy validation, No Claim Rules (NCR) processing, and STP auto-adjudication for health and general insurance claims.
Key Features
- Digital document extraction and categorization for cashless and reimbursement claims
- Regulator-approved STP auto-adjudication
- Reported 200% efficiency gain and 75% reduction in manual effort at an unnamed insurer in Malaysia and Indonesia
Target Users: Health and P&C insurance carriers, TPAs
IHX (Indian Healthcare Exchange)
Acquired April 2025. A healthcare information exchange platform integrated with 30,000 hospitals across 1,200+ locations in India.
Key Features
- Processes 40%+ of all cashless health insurance claims in India (10M+ annual transactions, USD 1B in claims)
- Connected to 30+ leading health insurance payers
Target Users: Health insurance carriers, hospitals
CAM AI (Credit Assessment Memorandum AI)
Launched August 2025. AI-driven credit assessment memo generation for underwriting.
Key Features
- Automates credit assessment memorandum creation
- Reported 85% reduction in underwriting cycle time
Target Users: Insurance carriers, banks
Perfios Hub
API marketplace enabling financial institutions to access and integrate Perfios verification, analytics, and KYC/KYB capabilities.
Key Features
- REST API access for business verification, bank verification, and insurance onboarding
- Quick-onboarding architecture for enterprise integrations
Target Users: Carriers, banks, NBFCs, fintech developers
Clari5
Acquired February 2025. Banking financial crime management platform for fraud mitigation, risk intelligence, and AML compliance.
Key Features
- Real-time fraud detection and prevention
- Anti-Money Laundering (AML) monitoring
- Risk intelligence for banks and insurers
Target Users: Banks, insurance carriers
At a Glance
- Founded
- 2008
- Headquarters
- Bengaluru, Karnataka, India
- Employees
- 1000+
- Funding
- Series C+
Category & Focus
- Category
- Claims Technology
- Subcategories
- Underwriting & Risk Compliance & Regulatory Data & Analytics
- Insurance Verticals
- Health Life & Annuity P&C Commercial
- Target Customers
- Carriers, TPAs
Customers
- Unnamed leading insurer in Malaysia and Indonesia (25,000+ monthly claims processed via Perfios Claims Automation)
- 30+ leading health insurance payers in India (via IHX)
- 1,000+ financial institutions globally (banks, NBFCs, carriers)
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Last updated: 2026-06-21