IDfy Revenue, Valuation, Funding & Investors
IDfy is valued at $253M as of June 2026.
Last IDfy valuation
$253M
Undisclosed stage · Jun 2026
Last IDfy funding round
$23M
Undisclosed stage · Jun 2026
IDfy revenue
$23M
Secondary · Feb 2026
Key investors in IDfy
Blume Ventures
Elev8 Venture Partners
Kae Capital
Analog Capital
IndiaMART InterMESH
Neo Asset Management
About IDfy
IDfy is a Mumbai-headquartered identity verification platform serving Indian enterprises. The company delivers background checks, KYC authentication, and fraud detection using machine learning, facial recognition, and document verification for fintech, e-commerce, and insurance sectors. IDfy processes verifications for banks like HDFC and platforms such as Paytm. Founded in 2011, it operates nationwide with integrations for real-time risk scoring.
Founded
2011
HQ
MumbaiWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$23M (Feb 2026)
Valuation
$253M (Jun 2026)
IDfy Valuation
IDfy is currently valued at $253M, based on its undisclosed-stage round in June 2026.
IDfy's valuation has grown 2.4x from $108M at its strategic investment round in May 2024 to $253M in June 2026, across 4 priced rounds.
IDfy valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2026 | Undisclosed stage | $253M | - |
| Feb 2026 | Secondary | $272M | 11.8x |
| Feb 2026 | Series F | $272M | - |
| May 2024 | Strategic investment | $108M | 5.4x |
IDfy Revenue
IDfy's latest recorded revenue is $23M, as of its secondary sale in February 2026. At a $272M valuation, that implies a 11.8x revenue multiple.
Revenue grew from $20M in May 2024 to $23M in February 2026, while the revenue multiple moved from 5.4x to 11.8x.
IDfy revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2026 | $23M | $272M | 11.8x | Secondary |
| May 2024 | $20M | $108M | 5.4x | Strategic investment |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
IDfy Funding History
IDfy has raised a total of $100M across 6 funding rounds, plus 1 secondary share sale.
IDfy's first fundraising round was a $3M seed round in January 2018. The most recent completed round was a $23M undisclosed-stage round in June 2026.
IDfy funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2026 | Undisclosed stage | - | $23M | $253M | Indian identity verification firm IDfy raised approximately $23 million (INR 2.2 billion) in a late-stage venture funding round that closed in June 2026, establishing a post-money valuation of $256.4 million (INR 24.2 billion). The capital will be deployed to develop and scale advanced risk-detection tools that complement IDfy's core offerings in customer onboarding, fraud detection, risk management, and compliance solutions. This round follows IDfy's Series F raise of $52 million in February 2026, led by Neo Asset Management, which included a mix of primary and secondary investment. IDfy, founded by Ashok Hariharan in 2011 and headquartered in Mumbai, is a RegTech platform specializing in digital trust, compliance, and fraud prevention for the rapidly evolving Indian digital identity ecosystem. |
| Feb 2026 | Secondary | Neo Asset Management (lead); Analog Capital; Elev8 Venture Partners; Blume Ventures; IndiaMART InterMESH; Kae Capital | $28M | $272M | IDfy is a Mumbai-based digital trust and identity verification platform founded in 2011. The company provides an integrated TrustStack platform covering digital onboarding, risk mitigation, fraud detection, and privacy governance solutions for enterprise clients. In February 2026, IDfy raised ₹476 crore (approximately $52-53 million) in a Series F funding round led by Neo Asset Management's Neo Secondaries Fund, with participation from existing investors Blume Ventures, Analog Capital, Elev8 Venture Partners, IndiaMART InterMESH, and Kae Capital. The round consisted of ₹220 crore in primary investment and ₹256 crore in secondary purchases by existing shareholders. The primary capital will fund strategic acquisitions, expansion into new international markets, and product development. IDfy operates profitably and is cash flow positive, with FY25 operating revenue of ₹189 crore and net profit of ₹1.6 crore. The company serves over 500 enterprise clients across more than 10 sectors and conducts over 500 million verification checks annually. Approximately 18% of its revenue currently comes from international markets, with existing operations in Southeast Asia and the Middle East including physical presence in the Philippines and Indonesia. The company works with approximately 70% of large NBFCs and banks in India and is expanding its presence in Gulf countries. IDfy's platform addresses the escalating global digital fraud crisis, with annual losses estimated to exceed $1 trillion globally. |
| Feb 2026 | Series F | Neo Asset Management (lead); Analog Capital; Elev8 Venture Partners; Blume Ventures; IndiaMART InterMESH; Kae Capital | $24M | $272M | IDfy is a Mumbai-based digital trust and RegTech platform founded in 2011 by Ashok Hariharan and V Balakrishnan, offering identity verification, digital onboarding, fraud detection, risk management, and compliance solutions to over 1,500 enterprise clients across BFSI, e-commerce, gaming, and other sectors in India, Southeast Asia, the Middle East, and beyond. The company processes more than 500 million verification checks annually and operates in seven countries, positioning itself as infrastructure for trust in digital economies amid rising data privacy regulations like India's DPDP Act. On February 13, 2026, IDfy raised INR 476 crore (about $52-53 million) in a Series F round led by Neo Asset Management's Neo Secondaries Fund, with participation from existing investors Blume Ventures, Analog Capital, Elev8 Venture Partners, IndiaMART InterMESH, and Kae Capital. The round comprised INR 220 crore in primary capital and the remainder as secondary sales, providing partial liquidity to early investors and employees while infusing fresh funds for growth. MCA filings detail investments including INR 189 crore from Neo, INR 11 crore each from IndiaMART and Analog Capital, INR 5 crore from Elev8, and INR 1.7 crore from Kae Capital. The funds are earmarked for strategic acquisitions, international expansion into markets like the Gulf, Southeast Asia, and Africa, product enhancements, and deeper penetration with existing clients such as banks and NBFCs. IDfy, now profitable, reported FY25 operating revenue of INR 189 crore and net profit of INR 1.6 crore, allowing it to fund daily operations from internal accruals while pursuing inorganic growth as a 'conservative global consolidator' in RegTech. The round valued IDfy at a post-money $272 million, a significant leap supporting its ambitions against competitors like Signzy and Bureau, which have raised less overall. This funding follows a prior $17 million raise in 2024 and brings total capital raised to over $70 million, enabling IDfy to capitalize on global digital fraud trends and regulatory demands. |
| May 2024 | Strategic investment | - | $11M | $108M | IDfy is an Indian regtech platform providing identity verification, digital onboarding, risk mitigation, fraud detection, and privacy governance solutions through its TrustStack suite. Founded in 2010, it serves over 500 enterprise clients across more than 10 sectors, completing 2 million daily verifications and over 500 million checks annually. In February 2026, IDfy raised $52-53 million (₹476 crore) in a Series F round led by Neo Asset Management's Neo Secondaries Fund, with participation from Blume Ventures, Analog Capital, Elev8 Venture Partners, IndiaMART, and Kae Capital. The round included $24 million (₹220 crore) in primary funding and $28 million (₹256 crore) in secondary transactions for employee and early investor liquidity, achieving a post-money valuation of $272 million (₹2,420 crore). Proceeds will fund strategic acquisitions, international expansion, and product innovation. IDfy reported revenues of ₹186 crore in FY25, up from ₹145 crore in FY24, and achieved a net profit of ₹1.6 crore in its first profitable year. It has raised a total of around $62.7-120 million across multiple rounds, including a 2024 round of $17-27 million. The company positions itself against competitors like Signzy ($38.7M raised) and Bureau ($50M raised), leveraging AI/ML for enhanced efficiency in customer onboarding and fraud prevention. |
| Mar 2024 | Series E | Elev8 Venture Partners (lead); KB Investment; Tenacity Ventures | $27M | - | IDfy is an identity verification and regtech platform founded in 2010 that provides KYC, KYB, digital onboarding, and risk management solutions to enterprises across multiple sectors. The company serves over 500 enterprise clients across more than 10 industries and conducts over 500 million verification checks annually, processing over 2 million daily verifications as of early 2026. In March 2024, IDfy secured $27 million in Series E funding led by Elev8 Venture Partners, with participation from KB Investment and Tenacity Ventures. This investment was intended to fuel expansion plans and product development, including the company's TrustStack suite of digital onboarding, risk mitigation, and privacy governance solutions. Following this round, IDfy continued its growth trajectory and raised a subsequent Series F round of ₹476 crore (approximately $52 million) in February 2026, led by Neo Asset Management with participation from existing investors including Blume Ventures, Analog Capital, Elev8 Venture Partners, IndiaMART, and Kae Capital. By February 2026, IDfy had raised a total of $62.7 million across 12 funding rounds. |
| Oct 2021 | Series D | Blume Ventures (lead); TransUnion CIBIL (lead) | $12M | - | IDfy is a Mumbai-based ID verification and digital onboarding solutions company that builds technology to authenticate entities and prevent fraud. The company helps businesses verify customers and merchants with minimal friction, serving over 500 clients across payments, e-commerce, mobility, and financial services sectors including Amazon, Airbnb, HDFC Bank, Dream11, and Visa. In October 2021, IDfy raised Rs 86 crore (approximately $11.5 million USD) in its Series D funding round led by TransUnion (NYSE: TRU) and Blume Ventures. The company had completed over 70 million verifications at the time of the round. IDfy intended to use the capital to strengthen product offerings and expand internationally into Southeast Asia and the Middle East. The investment reflected confidence in IDfy's position as a pioneer in the regulatory technology sector, with the company already ranked among Asia's top 5 RegTech companies. |
| Jan 2018 | Seed | New Enterprise Associates (lead); NB Ventures; Dream Incubator | $3M | - | IDfy is a digital trust and verification platform specializing in identity verification, fraud detection, and compliance solutions for enterprises. Founded in 2011, the company provides a suite of digital onboarding, background verification, and risk mitigation tools designed to help businesses secure customer acquisition and meet regulatory obligations. In January 2018, IDfy raised $3 million in a Series Unknown round led by New Enterprise Associates to further develop its fraud detection and identity verification technologies. The company has since grown substantially, now serving more than 500 enterprise clients across over 10 sectors and conducting over 500 million verification checks annually across seven countries. |
Who has invested in IDfy?
12 investors have backed IDfy across its funding rounds, including Blume Ventures, Elev8 Venture Partners, Kae Capital, Analog Capital, IndiaMART InterMESH and Neo Asset Management.
Lead investors include Neo Asset Management, Elev8 Venture Partners, Blume Ventures, TransUnion CIBIL and New Enterprise Associates.
IDfy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Bangalore | 3 | Lead | Mar 2024 | |
| Mumbai | 3 | Lead | Oct 2021 | |
 Singapore | 2 | Participant | Feb 2026 | |
| Mumbai | 2 | Lead | Feb 2026 | |
| Noida | 2 | Participant | Feb 2026 | |
| Mumbai | 2 | Participant | Feb 2026 | |
 Seoul | 1 | Participant | Mar 2024 | |
 San Francisco, CA | 1 | Lead | Jan 2018 | |
 Dubai | 1 | Participant | Jan 2018 | |
 Tokyo | 1 | Participant | Jan 2018 | |
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Start Free TrialCommon questions about IDfy
| When was IDfy founded? | IDfy was founded in 2011. |
| Where is IDfy headquartered? | IDfy is headquartered in Mumbai, India. |
| Is IDfy publicly listed? | No, IDfy is a private, VC-backed company. |
| What is IDfy's valuation? | IDfy was last valued at $253M in its undisclosed-stage round in June 2026. |
| How much funding has IDfy raised? | IDfy has raised $100M across 6 funding rounds. |
| What was IDfy's last funding round? | IDfy's last funding round was a $23M undisclosed-stage round in June 2026. |
| Who are IDfy's investors? | IDfy's investors include Elev8 Venture Partners, Blume Ventures, Analog Capital, Neo Asset Management, IndiaMART InterMESH, Kae Capital, KB Investment, New Enterprise Associates, NB Ventures, Dream Incubator and 2 others. |
| What is IDfy's revenue? | IDfy's latest recorded revenue is $23M (February 2026). |
| What is IDfy's revenue multiple? | IDfy's latest valuation implies a 11.8x revenue multiple ($272M valuation on $23M of revenue). |
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