# IDfy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/idfy

- Industry: Software
- Headquarters: Mumbai, India
- Website: www.idfy.com/
- Total disclosed funding: $104M
- Latest round: Series F (Feb 13, 2026)
- Investors on record: 15

## About

Based in India, Baldor Technologies Private Limited, doing business as IDfy, operates as a software company that provides verification solutions to businesses.
Based in Mumbai, Maharashtra, India and founded in 2011, Baldor Technologies Private Limited (operating as IDfy), founded by Ashok Hariharan and V Balakrishnan, with Ashok Hariharan serving as CEO, provides digital identity verification, background screening, fraud detection, and compliance solutions for enterprises operating across BFSI, fintech, e-commerce, gig economy, and other regulated industry segments. In June 2026, IDfy raised approximately INR 2.2 billion in venture funding. The venture funding values IDfy at approximately INR 24.2 billion post-money.

The company provides an identity verification platform that offers comprehensive verification solutions to businesses. The platform's services include customer verification, employee background verification, vendor identity verification, and user identity verification. Moreover, the firm offers solutions such as API integration for smarter decision-making, video KYC solutions, and merchant onboarding identity verification. Additionally, the company also provides services such as compliance and fraud prevention.

IDfy generates revenue primarily through professional fees charged to enterprises for using its digital identity verification and compliance solutions, including KYC, KYB, background verification, fraud detection, and onboarding services. Its revenues are largely usage-based, with clients paying per verification or through API-driven and SaaS-based service consumption across regulated and high-volume industries.

The company will use the June 2026 funding to scale its risk detection and identity verification capabilities.

## Funding rounds

- Series F, Feb 13, 2026, $53M — Blume Ventures, IndiaMART InterMESH Ltd., Kae Capital, Analog Capital, Neo Asset Management, Elev8 Venture Partners
- Series E, Apr 17, 2024, $7.6M — KB Investment, IndiaMART InterMESH Ltd., Tenacity Ventures, Elev8 Venture Partners
- Series E, Mar 6, 2024, $27M — KB Investment, Tenacity Ventures, Elev8 Venture Partners
- Series D, Sep 15, 2021, $13M — HDFC Bank, TransUnion LLC, Blume Ventures, HDFC Securities
- Series C, Mar 27, 2015, $3M — New Enterprise Associates, Blume Ventures, Beenos, Trifecta Venture, Faktory Ventures
- Series B, Dec 11, 2013, $1.1M — Blume Ventures
- Seed, Mar 29, 2012, $0.1M — Blume Ventures

## Investors

- Blume Ventures (https://capitalatlas.ai/funds/blume-ventures) — Seed, Series B, Series C, Series D, Series F
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series C
- Beenos — Series C
- Trifecta Venture — Series C
- Faktory Ventures (https://capitalatlas.ai/funds/faktory-ventures) — Series C
- HDFC Bank — Series D
- TransUnion LLC — Series D
- HDFC Securities — Series D
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series E
- Tenacity Ventures (https://capitalatlas.ai/funds/tenacity-ventures) — Series E
- Elev8 Venture Partners (https://capitalatlas.ai/funds/elev8-venture-partners) — Series E, Series F
- IndiaMART InterMESH Ltd. — Series E, Series F
- Kae Capital (https://capitalatlas.ai/funds/kae-capital) — Series F
- Analog Capital — Series F
- Neo Asset Management (https://capitalatlas.ai/funds/neo-asset-management) — Series F