IDfy secures $27m in funding to revolutionise identity verification across Asia

IDfy secures $27m in funding to revolutionise identity verification across Asia

IDfy, an innovative player in the identity verification space, has recently announced a significant financial boost, raising $27m in a recent investment round.

The round saw participation from Elev8 Venture Partners, KB Investment, and Tenacity Ventures, marking a pivotal moment for the company.

Founded in 2011 by Ashok Hariharan and Vineet Jawa, IDfy set out with a noble mission to eliminate fraud and establish trust in digital interactions. Today, IDfy stands as Asia’s leading Integrated Identity Platform, serving major enterprises across India, Southeast Asia, and the Middle East. The company impacts over 150 million lives and supports more than 60 million verifications each month, showcasing the scale and effectiveness of its solutions.

The new infusion of capital is earmarked for accelerating IDfy’s growth, with plans to expand their offerings and enhance their product development. This will enable IDfy to serve even more businesses, helping to unlock opportunities for trustworthy interactions and transactions across a broader demographic.

IDfy’s technology suite includes over 140 APIs, a Video Solutions platform, RiskAI, IDfy360, and a SaaS-based Background Verification tool, among others. These products are designed to help enterprises eliminate fraud, ensure compliance, and establish trust through advanced, tech-powered solutions for KYC, KYB, and more.

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