Perfios acquires Bengaluru-based fraud detection platform Clari5

Software-as-a-Service (SaaS) company Perfios has acquired Bengaluru-based fraud detection platform Clari5 (CustomerXPs), a banking financial crime management platform. Clari5’s real-time platform enables banks to detect, investigate, and prevent fraud while offering comprehensive solutions in fraud mitigation, risk management, and anti-money laundering (AML). 

As per an official statement, the acquisition enhances Perfios’ fraud and risk management (FRM) capabilities, driving product-led synergies that align with the company’s growth strategy.

Sabyasachi Goswami, CEO of Perfios, said, “Known for its abilities in enterprise fraud risk management (EFRM) and AML, Clari5’s tools perfectly complements our mission to deliver secure, scalable, and technology-driven solutions. Together, we aim to redefine fraud prevention, risk intelligence, and AML compliance, helping financial institutions stay ahead of emerging threats and ensuring financial security for billions globally.” 

Rivi Varghese, CEO of Clari5, said, “Perfios’ presence in financial technology, combined with our advanced real-time financial crime management platform, creates a strong synergy to combat financial fraud with unmatched speed and accuracy. This collaboration will allow us to expand our reach, accelerate product innovation, and enhance our ability to support financial institutions worldwide in tackling evolving financial crime threats.”

Perfios witnessed a significant jump in its FY24 profit, soaring to ₹71.67 crore—nearly ten times higher than the previous year's ₹7.79 crore—propelled by robust revenue growth. 

The company's revenue from operations grew by 37.1%, reaching ₹557.8 crore in FY24, up from ₹406.8 crore in the previous year, as per filings with the Registrar of Companies. 

Despite a 22% rise in expenses, which totaled ₹495.5 crore due to increased employee benefit costs, depreciation, and other operational expenditures, Perfios maintained a strong profit margin. The majority of its revenue—₹472.18 crore, or 84%—was generated from the sale of services, underscoring its strong market position.