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B2B SaaS Fintech Firm Perfios Expands with Acquisition of IHX

B2B SaaS fintech company Perfios is making strides by acquiring healthcare information exchange IHX, aiming to strategically enhance its technology offerings within the health insurance claims sector. This acquisition follows a successful funding of approximately $2.58 million raised by IHX from LogX Venture Partners and Quik Solutions.

This acquisition marks the third significant purchase for the Bengaluru-based entity in a mere three months, as it seeks to strengthen its expertise across the banking, financial services, and insurance (BFSI) landscape.

Perfios plans to merge its data intelligence and analytics capabilities with the IHX platform to enhance the speed of claim processing, improve operational visibility, and facilitate real-time decision-making for hospitals, insurers, and patients alike. This will be bolstered by leveraging its existing network of 30,000 hospitals and 30 insurers.

As part of the acquisition arrangement, IHX will maintain its independent operations, brand identity, and leadership structure, mirroring the approach taken with Perfios’ previous acquisitions.

About IHX

Established in 2020 by Mayank Tiwari, Ajay Bakshi, Sanjay Kalra, Ambuj Kashyap, and Mahesh Nagaraj, IHX functions as a healthcare data exchange entity. It operates a digital platform that connects various stakeholders within the healthcare system, including hospitals, payers, and diagnostic laboratories. The focus remains on enabling data exchange, managing consent, and offering actionable insights driven by AI/ML technologies.

IHX claims to manage over 40% of India’s cashless health insurance claims, processing more than 10 million transactions annually, equating to a substantial claim value of $1 billion. Its platform links 30,000 hospitals across 1,200 locations with over 30 insurers, featuring prominent names such as Reliance Hospital, DY Patil Hospital, MGM Healthcare, and Jaslok Hospital.

Perfios’ Recent Acquisition History

In the previous year, Perfios expanded its portfolio by acquiring Karza Technologies and FintechLabs Technologies. Shortly after, it acqui-hired Chennai-based Fego.ai, a startup focusing on behavioural financial insights. The acquisition of IHX is part of a series of strategic moves, which also includes the earlier acquisitions of Clari5, a banking fraud detection platform, and CreditNirvana, an AI-enabled debt collections and recovery solution, both from 2025.

Global Expansion and Financial Growth

Currently, Perfios operates in 18 countries, with ongoing efforts to broaden its international presence. The company’s revenues demonstrated robust growth, increasing by 37% year-on-year to reach Rs 558 crore in FY24, up from Rs 407 crore in FY23.

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