**Perfios Acquires Clari5 to Enhance Financial Crime Management Solutions**
Perfios, a Bengaluru-based B2B software-as-a-service (SaaS) provider, has acquired Clari5, a startup specializing in financial crime management, to accelerate its growth trajectory. This acquisition is expected to strengthen Perfios’ foothold in India and facilitate its expansion into the Middle East, North Africa, and Southeast Asia, as stated by the company. Perfios has not disclosed the financial details of the acquisition.
Clari5 is known for its innovative approach to banking fraud prevention, utilizing artificial intelligence (AI) to mimic human cognitive processes in detecting financial crimes. Its offerings include solutions for anti-money laundering, real-time fraud detection, and customer risk assessment during onboarding. Clari5 processes over 10 billion transactions each month and oversees more than 1 billion bank accounts globally.
According to Perfios CEO Sabyasachi Goswami, the acquisition aligns perfectly with the company’s mission to provide secure, scalable, and technology-driven solutions. Established in 2009, Perfios delivers banking, financial services, and insurance (BFSI) solutions across 18 countries. The company experienced significant growth, rising from a valuation of $3.3 million after its second Series A funding round to a remarkable $900 million by 2023, following a $229 million investment led by Kedara in its first Series D round. In 2024, an $80 million investment from Teacher’s Venture Growth elevated Perfios to unicorn status with a valuation of $1 billion, according to Tracxn data.
Perfios views traditional financial crime prevention methods as outdated and emphasizes the necessity of AI-driven, real-time intelligence to outpace sophisticated fraudsters. Goswami highlighted the need for banks and financial institutions to leverage advanced AI capabilities to stay ahead of criminal activities.
The acquisition of Clari5 is not expected to affect personnel, as the company will operate as a subsidiary. In the short term, this acquisition is anticipated to enhance Perfios’ product development. Over the medium term, the company aims to solidify its presence in global markets, despite some product overlap between the two entities. Long-term plans include expanding its footprint in the Middle East, Southeast Asia, and the broader Asia-Pacific (APAC) region.
Goswami noted that the company’s inorganic growth strategy is not driven by specific milestones but is focused on strengthening the financial crime management ecosystem. Perfios has chosen not to comment on any potential plans for an initial public offering.
