Online identity verification platform IDfy has raised ₹476 Cr (about $52.5 Mn) in its Series F funding round in a mix of primary and secondary components. The round was led by Neo Asset Management, with participation from existing backers Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. The startup, in a statement, said the funding will be used for strategic acquisitions, entry into new international markets, and strengthening its product suite. Without disclosing the names of investors taking exit via secondary transaction, cofounder and CEO Ashok Hariharan said, “This secondary component provides an exit for our early backers and team members who believed in our vision when trust infrastructure wasn’t yet a category.” Founded in 2011 by Hariharan and Vineet Jawa, IDfy provides a digital trust stack that helps users authenticate and validate individual profiles using predictive analytics via services such as background verification, customer insights and end-to-end HR intelligence for recruitment. IDfy’s TrustStack platform offers solutions for digital onboarding, risk mitigation and privacy governance. Apart from India, it operates in regions like Southeast Asia and the Middle East. Equipped with AI/ML capabilities and banking grade security, the startup claims to have worked with over 500 enterprise clients across… Read MoreInc42 Media
