Fintech SaaS unicorn Perfios has bought healthcare information exchange platform IHX, marking its third acquisition this year.
Without disclosing the financial terms of the deal, the Bengaluru-based startup said that through this buyout it plans to strengthen its claims management in the healthcare insurance sector.
Perfios chief executive officer Sabyasachi Goswami said, "By combining IHX's stronghold in the healthcare ecosystem with Perfios' deep expertise in data intelligence and analytics, we are poised to drive greater efficiency, reduce claims turnaround time, and elevate the experience for both patients and healthcare providers."
Founded by Mahesh Nagaraj and Ambuj Kashyup in 2020, IHX is a digital healthcare platform which provides data solutions to hospitals, payers, and diagnostic laboratories. It leverages AI/ML to help its customers in analysing healthcare data and make informed decisions. Besides, it also runs a digital claim management platform.
IHX claims to have partnered with more than 30,000 hospitals across 1200+ locations in India.
Perfios, founded in 2008 by VR Govindarajan and Debasish Chakraborty, specialises in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring and more. It operates in the B2B segment, serving more than 1000 financial institutions.
This comes days after the company acquired AI-powered debt collection startup CreditNirvana and CustomerXPs, the parent entity of banking fraud management startup Clari5.
The company entered the unicorn club after raising $80 Mn (INR 663 Cr) from Teachers' Venture Growth (TVG) in 2024. The funding round propelled Perfios' valuation to more than $ 1 Bn mark.
On the financial front, the company posted a 819.2% surge in its consolidated net profit to INR 71.7 Cr in FY24, against a net profit of INR 7.8 Cr in the previous fiscal year.
Last year, Perfios also onboarded former Infosys executive Rajesh Kini as the new CFO.
As per Inc42's State Of Indian Fintech Report 2024, India is home to more than 790 fintech startups. These startups managed to collectively raise more than $29 Bn of funding since 2014. Out of these, 26 are in the unicorn club and 37 startups are eyeing $1 Bn valuation.
The Indian fintech market is anticipated to reach the $2.1 Tn mark by 2030, the report added.