Sunday, June 23, 2024
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IDfy, a pioneering force in identity verification, has secured $27 million in funding, marking a significant milestone for the company. Elev8 Venture Partners, KB Investment, and Tenacity Ventures participated in the funding round, underscoring its importance.

Established in 2011 by Ashok Hariharan and Vineet Jawa, IDfy embarked on a mission to combat fraud and instill trust in digital interactions. Today, IDfy stands as Asia’s premier Integrated Identity Platform, serving prominent enterprises across India, Southeast Asia, and the Middle East. With a vast reach impacting over 150 million lives and facilitating more than 60 million verifications monthly, IDfy demonstrates the scale and efficacy of its solutions.

The fresh injection of capital is designated to accelerate IDfy’s growth, fueling plans to broaden their offerings and bolster product development. This strategic move will empower IDfy to cater to a wider spectrum of businesses, facilitating secure and reliable interactions and transactions across diverse demographics.

IDfy’s technology suite encompasses over 140 APIs, a Video Solutions platform, RiskAI, IDfy360, and a SaaS-based Background Verification tool, among others. These cutting-edge products are tailored to assist enterprises in combatting fraud, ensuring compliance, and fostering trust through advanced, technology-driven solutions for Know Your Customer (KYC), Know Your Business (KYB), and beyond.

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