• Fintech startup Perfios has acquired AI-driven debt collection firm CreditNirvana, following its recent purchase of Clari5 to enhance fraud detection.
  • The acquisition aligns with Perfios’ strategy to offer end-to-end financial solutions, addressing debt management as a key area in financial services.

Bengaluru-based fintech startup Perfios has acquired artificial intelligence (AI)-powered debt collection company CreditNirvana for an undisclosed amount. This is Perfios’ second acquisition in just over a month, following its purchase of financial crime management firm Clari5 in February.

Perfios, which provides financial data analysis software to banking, financial services, and insurance (BFSI) institutions, aims to strengthen its position as a full-stack technology provider through this acquisition.

The company operates across 18 countries and became a unicorn in 2024 after securing an $80 million investment from Teacher’s Venture Growth, according to Tracxn.

CreditNirvana, founded in 2018 by Raj MKK, specializes in AI-driven debt collection solutions. Its technology predicts and mitigates delinquencies while automating the debt collection lifecycle. The company manages a collection portfolio exceeding $9 billion, covering 42 million loan accounts across nine loan categories.

“This acquisition is a natural extension of our strategy, and it helps strengthen us from a full-stack tech-first solution perspective,” said Sabyasachi Goswami, CEO of Perfios.

The acquisition aligns with Perfios’ broader strategy of covering every aspect of the financial customer journey. Goswami emphasized that debt management remains a crucial yet underserved segment in financial services.

Perfios’ approach to acquisitions has been methodical, aiming to enhance its market position rather than simply expanding its portfolio.

“From an acquisition perspective, we’ve always been strategic, never opportunistic,” Goswami stated.
“Every acquisition we make is an attempt to add depth or accelerate Perfios’ market reach. The CreditNirvana buyout is a strategic lever to expand into newer client segments.”

The company’s recent acquisitions have relied heavily on AI-driven technology, raising questions about whether AI-powered firms will continue to be a focus for Perfios. However, Goswami clarified that technology alone is not the primary driver behind acquisitions.

“We always wanted to fill in the gap in debt collections; we found that through CreditNirvana. The company’s AI-driven collection engine complements Perfios’ intelligence and decisioning platform,” he explained.

While Perfios has made AI-powered acquisitions, Goswami noted that this does not indicate a shift toward exclusively acquiring AI-focused companies.

“Technology is not the only reason, it is one of them,” he said.

Perfios has been expanding its presence beyond India, with a focus on markets in the Middle East, South-East Asia, and the Asia-Pacific region. With its recent acquisitions, the company aims to strengthen its capabilities in financial crime management and debt collection, reinforcing its position as a leading fintech solutions provider.

Edited by Harshajit Sarmah