According to reports, Perfios, a software provider to banks and other financial services firms, bought CreditNirvana, a debt management and collections platform.

The corporation did not disclose the deal's financial specifics.

After acquiring banking financial crime management platform Clari5 in February to strengthen its risk intelligence and fraud prevention capabilities, this is Perfios' second acquisition in as many months.

“This acquisition is a natural extension of our strategy to strengthen the full stack, tech-first solutions that we have. We aim to power the end-to-end customer lifecycle for financial institutions,” says Sabyasachi Goswami, CEO of Perfios.

CreditNirvana was established in 2019 and specializes in debt management solutions driven by artificial intelligence (AI) that assist banks, non-banking financial institutions, and fintech companies in streamlining loan collections, lowering delinquencies, and enhancing portfolio performance. The platform handles over 42 million loan accounts and oversees a collection portfolio worth over $9 billion.

CreditNirvana will function as a fully owned subsidiary of Perfios after the acquisition, and its staff of about 100 workers will continue to operate on their own.

Since its founding in 2018, CreditNirvana has raised $2.2 million in equity capital, according to data from Tracxn. With a revenue of Rs 11.8 crore during 2023–2024, it reported a net loss of Rs 4.5 crore.

Founded in 2008, Perfios offers software that analyses bank accounts, paystubs, and passbooks digitally to assist lenders in underwriting clients and enterprises. Warburg Pincus, Kedaara Capital, and Bessemer Venture Partners are among the investors who have contributed $450 million to the company, which was recently valued at $2.5 billion.

Sabyasachi says that the company was concentrating on foreign expansion and acquisitions during its most recent fundraising effort, which raised $80 million in March 2024.

Perfios supports credit decision-making and financial services by processing over 8.2 billion data points a year for more than 1,000 financial institutions in 18 countries.