IDfy, a trust and regtech platform, has collected Rs 476 crore, or approximately $53 million, through primary and secondary transactions in a Series F funding round. Existing investors Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital participated in the round, which was led by Neo Asset Management through its Neo Secondaries Fund.

Key Highlights

• IDfy secures $53 million funding led by Neo Secondaries Fund to accelerate global expansion rapidly.
• Investment strengthens IDfy’s leadership in digital identity, compliance, and enterprise trust solutions across key markets.

The major capital's earnings will be put toward expanding into new foreign markets, making smart acquisitions, and improving its current line of products. Early investors and staff will have access to liquidity through the secondary phase of the event.

IDfy was established in 2011 and provides a comprehensive TrustStack platform that addresses risk reduction, fraud detection, digital onboarding, and privacy governance.

The organization performs more than 500 million verification checks a year and serves more than 500 enterprise clients in over ten categories. IDfy operates in seven countries, including the Middle East, Southeast Asia, and India.

The funding comes at a time when there is a growing global need for identity verification, fraud detection, and privacy compliance solutions due to an increase in digital transactions and changing legal requirements. The development of the regtech ecosystem in India has been aided by the implementation of the Digital Personal Data Protection (DPDP) Act and increased funding for digital infrastructure.

IDfy has raised more than $120 million so far, including a $27 million round that included main and secondary transactions from Elev8, KB Investment, and Tenacity.

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In terms of finances, IDfy had operational revenue of Rs 186 crore in FY25 as opposed to Rs 145 crore in FY24. Additionally, after reporting a loss in the previous fiscal year, the company claimed a net profit of Rs 1.6 crore for the year.