Perfios buys healthcare information exchange platform IHX

Fintech SaaS unicorn Perfios has acquired IHX, a health insurance claims and information exchange platform, marking its third acquisition this year.

The financial terms of the transaction were not disclosed.

IHX says it processes over 40% of all cashless health insurance claims in India, representing over 10 million transactions and $1 billion claims annually.

In the last couple of months, B2B SaaS fintech firm Perfios has made two acquisitions: Bengaluru-based startups Clari5 and CreditNirvana. With these acquisitions, the firm aims to bolster its capabilities in risk management, debt collection, and fraud prevention.

The company’s first acquisition was Kraza Technologies, an identity verification platform, in February 2022. A year later, it acquired financial behaviour analytics startup Fego.Ai.

Perfois, which became a unicorn a year ago, has been consistently acquiring companies that align with its long-term vision of becoming the "operating system” of the BFSI (banking, financial services, and insurance) sector.

“The acquisition of IHX is a strategic leap in our mission to transform the healthcare claims landscape,” said Sabyasachi Goswami, CEO of Perfios. “IHX has long served as the backbone of India’s health claims ecosystem, and we are excited to welcome the IHX team into the Perfios family."

IHX has built partnerships with more than 30,000 hospitals across 1,200 locations in India and works with over 30 insurance payers.

Founded in 2008 and headquartered in Bengaluru, Perfios helps large banks and financial institutions automate and manage the various processes connected with digital lending, payments, and asset management. It also helps lenders connect with loan origination services to disburse loans faster than via manual connections.

The startup serves more than 1,000 financial institutions across 18 countries. Its products and platforms facilitate processes such as origination, underwriting, decisioning, and monitoring. 

Last year, Perfios raised $80 million in a Series D1 funding round from Teachers’ Venture Growth—the venture and growth investment arm of the Ontario Teachers' Pension Plan. The infusion helped the company cross $1 billion in valuation.