Perfios acquires debt collections platform CreditNirvana

Perfios acquires debt collections platform CreditNirvana

12 Mar 2025, 06:46 PM

The platform claims that it manages a collection portfolio exceeding $9 billion, handles over 42 million loan accounts, and supports nine types of loan portfolios.

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Perfios has announced the acquisition of AI-driven debt management and collections platform CreditNirvana for an undisclosed sum.

"With lenders in India spending over $7 billion annually on debt recovery and collections, this acquisition positions Perfios to tap into a high-growth market with a full-stack, technology-first approach to financial services," the SaaS fintech unicorn said in its statement.

According to Perfios, this acquisition enhances its capabilities in collections and debt management, strengthening its end-to-end product stack. By enabling financial institutions to streamline recoveries, minimize delinquencies, and maximize portfolio performance, Perfios further cements its role as the operating system for the BFSI sector.

Founded in 2019 by Raj MKK, CreditNirvana leverages AI and predictive analytics to automate the entire collections lifecycle, from early-stage delinquency management to legal recoveries. It serves banks, NBFCs, fintechs, and Asset Reconstruction Companies (ARCs).

The platform claims that it manages a collection portfolio exceeding $9 billion, handles over 42 million loan accounts, and supports nine types of loan portfolios.

Sabyasachi Goswami, CEO, Perfios, said, "This acquisition is a strategic step in expanding our product suite and strengthening our capabilities in debt management and collections. By integrating CreditNirvana’s AI-driven capabilities with our existing solutions, we aim to unlock new efficiencies."

Perfios recently announced the strategic acquisition of Clari5, which provides fraud mitigation, risk intelligence and AML offerings to banks.

Founded in 2008, Perfios helps financial institutions with revenue analysis, fraud detection, verification, and automated customer onboarding. It serves sectors like consumer lending, SME lending, and wealth management. The company operates in 18 countries and supports over 1,200 institutions. Perfios, which also holds an account aggregator licence, posted Rs 558 crore in operating revenues in FY2024, as compared to Rs 407 crore reported a year ago. The net profit stood at Rs 71.7 crore, up from Rs 7.79 crore in FY23.

In March 2024, Perfios -- achieved an unicorn status -- after raising $80 million in funding from Teachers’ Venture Growth (TVG), a late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan. It raised $229 million in a Series D funding led by private equity investor Kedaara Capital in September 2023.

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