IDfy, a Mumbai, India-based ID verification and onboarding solutions company, raised INR 86 Crore in Series D funding.
The round was led by TransUnion (NYSE: TRU) and Blume Ventures.
The company plans to use this funding to strengthen its product offerings and expand its business and operations.
Led by Ashok Hariharan, Founder & CEO, IDfy (Baldor Technologies Pvt. Ltd.) builds technology products and solutions that accurately authenticate entities. This helps businesses prevent fraud and engage with verified entities with the least amount of friction. The company is growing its business internationally. During the last six months, IDfy has served companies in South East Asia and the Middle East. The solutions are applied across banks & financial institutions, e-commerce, online marketplaces, telecom, gaming, and the on-demand economy. IDfy’s clients and partners are spread across India, South East Asia and the Middle East. The list includes the likes of Amazon, Airbnb, HDFC Bank, Dream11, and VISA.