Perfios Raises $2M From Angel Investors

 Perfios Software Solutions Private Limited, a Bangalore-based personal finance software solutions provider, has raised $2 million from four angel investors.   Perfios has raised the funding from P.S. Pai, former Vice-Chairman of Wipro Group and later Executive Chairman of the Murugappa Group; V. Chandrasekaran, former president of Wipro Systems, managing director of iGate and CEO of Aztecsoft; Ashish Gupta, co-founder and managing partner of Helion Venture Partners and A.G Muralikrishnan, founder and CEO of Ujwal Management Services.   This is the second round of funding for the company which had earlier raised money from angel investors last year. Both Ashish Gupta and V. Chandrasekaran had participated in the earlier round.   The company has been founded by serial entrepreneur V.R Govindarajan, a Founding Member of Aztecsoft, a company in the outsourced software products development space.   Govindarajan told VCCircle that the company’s product was gaining significant traction from wealth managers and independent financial advisors. He added that the monies raised will be used for a pan-India acquisition and aggressive marketing approaches for customer acquisition.   Without divulging the revenue details, Govindarajan said that the company was still not cash positive but had huge plans to scale up. The company currently has a 15-member core team.   Perfios is targeting to increase the customer base to about a million users in three years. The increase in the number of tax payers in the country (over 3.5 crore last year) and the rising internet penetration will be key drivers in growth, it said in a statement.   The product is also updated with the latest regulatory requirements including tax laws.