Academics’ Enterprise Progress, the late-stage enterprise and progress funding arm of Ontario Academics’ Pension Plan, is investing $80 million in Perfios, an Indian fintech that gives real-time credit score underwriting options to banks and different monetary establishments. The brand new funding values Perfios at a valuation of over $1 billion.

15-year-old Perfios, which raised a $229 million funding spherical in September, mentioned it can use the contemporary capital for worldwide enlargement and to discover inorganic progress alternatives (learn acquisitions.) The startup, which has raised $464 million in major and secondary transactions to this point, plans to go public by subsequent yr, it mentioned earlier.

Bengaluru-based Perfios gives real-time knowledge aggregation and evaluation instruments to monetary establishments, enabling them to streamline their lending processes and make extra knowledgeable choices. Perfios helps banks and non-banking monetary firms assess the creditworthiness of potential debtors, decreasing the chance of defaults and enhancing total portfolio high quality.

Perfios mentioned it delivers 8.2 billion knowledge factors to banks and different monetary establishments yearly to facilitate quicker decisioning, and processes 1.7 billion transactions a yr with an AUM of $36 billion. Perfios is the second unicorn from India this yr.

Perfios’ credit score decisioning instruments. Picture Credit: AllianceBernstein

“We’re excited in regards to the rising alternatives inside the B2B enterprise tech house in India, and we consider Perfios is a best-in-class fintech-focused SaaS participant,” mentioned Kelvin Yu, Senior Managing Director and Head of Academics’ Enterprise Progress in Asia, in a press release.

Ontario Academics’ Pension Plan, certainly one of Canada’s largest pension funds, has ramped up its curiosity in India lately. The fund, which additionally backed logistics unicorn Xpressbees final yr, has invested greater than $3 billion in India and plans to deploy a major quantity within the nation by 2030 as a part of its broader purpose to deploy $300 billion in sure key markets.