SaaS-based B2B fintech firm Perfios has acquired CustomerXPs, the parent company of fraud detection platform Clari5, for an undisclosed amount. With this acquisition, Clari5 will become a wholly owned subsidiary of Perfios, which currently employs around 1,500 people. Despite the acquisition, the Clari5 leadership team will continue to operate independently within the group.
Expanding Fraud Detection Capabilities
Clari5 offers a range of fraud prevention and risk management solutions to banks, including:
- Enterprise Fraud Management
- Anti-Money Laundering (AML) Solutions
- Customer-Looped Alert Management
- Payment Fraud Reporting
- Customer Due Diligence & Identity Resolution
- Loan Origination and Monitoring
Since its inception in 2006, Clari5 has raised around $3.9 million in equity funding. In FY24, the company recorded a net profit of ₹3.4 crore on a revenue of ₹76.5 crore.
Perfios’ Growth and Expansion
Perfios specializes in fraud detection, revenue analysis, verification, and automated customer onboarding, catering to consumer lending, SME lending, and wealth management. It currently operates in 18 countries, serving over 1,200 financial institutions.
The acquisition of Clari5 follows Perfios’ earlier acquihire of Chennai-based open finance platform Fego.ai in September 2023. Perfios entered the unicorn club in March 2023 after raising $80 million in funding.
By integrating Clari5’s advanced fraud detection capabilities, Perfios aims to enhance financial security and regulatory compliance across its global network.
