One of the first questions that people ask us is how did youguys come up with this name Perfios? In a way it is good, as this topic is agood ice-breaker when you meet strangers and a nice conversation piece.
When we started working on the concept and initialprototypes, we had an internal code name for the project/company – Kubera. Forthe uninitiated, Kubera is Lord ofWealth in Indian mythology and as a company interested in seeing our users’wealth increase, Kubera seemed to be a decent code name. If you visit ouroffice, you will even see a picture of Kubera within a nice golden color photoframe (you don’t get to see too many of Kubera’s pictures)
As we moved from POC to real development and were close toincorporating the company, the issue of a real name for the company came up.Obviously, we didn’t (and don’t!) have the millions to outsource the task to a‘consulting firm’ and get a bunch ofnames (thankfully!). So, we came outwith all kinds of names that were a combination of Money, Finance, Personal,India, Security…(you get the idea).
We discovered one thing in the process. When we liked a nameand checked out the availability of domains (.com, .in etc), suddenly the ratesfor that domain will go up! We found out later that some domain registrars wereindulging in some unfair practices and a class action suit was filed in the USagainst this unfair practice!
As a company that is obsessed with security of data, we cameout with a name KuberaVault (to signify Wealth, Security and India centric).The domain was available and so went ahead with the registration process withRegistrar of Companies (ROC) in India. The application was promptly rejectedwith the reason that a company with the same name existed in India – producingsteel safes! (Vault would obviously imply safe in normal English!)
So, the process started again and after multiple mis-steps,discussions and spending very little money(!), came out with this name PersonalFinance One Stop (or for the techies in us – Personal Finance OperatingSystem!) . Converted this longish name to a more ‘cool’ sounding (or so wethink!) Perfios.