Bengaluru-based fintech company Perfios has acquired AI-powered debt collection firm CreditNirvana for an undisclosed sum. This marks its second acquisition in just over a month, following the purchase of financial crime management firm Clari5 in February. Perfios aims to enhance its full-stack financial solutions and strengthen its debt collection and management capabilities.
Fintech company Perfios has announced the acquisition of CreditNirvana, an AI-powered debt collection firm, for an undisclosed sum. This move marks Perfios’ second acquisition in just over a month, following its purchase of financial crime management firm Clari5 in February. Perfios, which specializes in banking, financial services, and insurance (BFSI) software solutions across 18 countries, aims to strengthen its financial technology offerings with this latest acquisition.
CreditNirvana, founded in 2018 by Raj MKK, utilizes artificial intelligence to automate the entire debt collection lifecycle while predicting and preventing delinquencies. The company currently manages a collection portfolio exceeding $9 billion, handling 42 million loan accounts across nine types of loan portfolios. It last secured funding in 2020 from US-based investors as part of its pre-Series A round.
This acquisition is a natural extension of our strategy, helping us enhance our full-stack tech-first approach. Debt management and collections remain a critical yet underserved segment in the financial customer lifecycle, and CreditNirvana’s AI-driven collection engine complements our intelligence and decisioning platform.”
Sabyasachi Goswami, CEO of Perfios
Perfios’ aggressive expansion strategy has been evident in its recent acquisitions, reinforcing its position as a leading fintech solutions provider. The company, which secured an $80 million investment from Teacher’s Venture Growth in 2024, continues to focus on expanding its presence in the Middle East, Southeast Asia, and the Asia-Pacific region.
With its increasing reliance on AI-driven solutions, Perfios remains committed to filling industry gaps and strengthening its market position. Goswami clarified that while AI plays a crucial role in acquisitions, it is not the only determining factor. “We have always been strategic in our acquisitions, ensuring that they align with our broader vision rather than being purely technology-driven,” he added.
As Perfios integrates CreditNirvana’s AI-powered capabilities, the acquisition is expected to enhance the efficiency of debt collections and management for financial institutions, reinforcing its position as a key player in India’s fintech ecosystem.
