IDfy, an Indian online identity verification and RegTech platform, has secured fresh capital as it looks to expand its global footprint and strengthen its product suite in digital trust and compliance.
According to Tech in Asia, the company raised 476 crore rupees, equivalent to $53m, in a Series F funding round comprising both primary and secondary transactions.
The round was led by Neo Asset Management’s Neo Secondaries Fund, with participation from existing backers including Blume Ventures, Analog Capital, Elev8, IndiaMART and Kae Capital.
Founded in 2011, IDfy provides digital onboarding, risk mitigation and fraud detection solutions to enterprises seeking to verify customers and manage compliance obligations in an increasingly digital environment.
Its services are designed to help organisations reduce identity-related risk, prevent financial crime and improve customer experience. The firm now serves more than 500 enterprise clients across over 10 sectors, operating in seven countries.
The primary capital raised in this latest round will be channelled into acquisitions, international expansion and further product development. The company said it aims to deepen its technological capabilities while exploring strategic opportunities to scale its presence beyond its core markets.
Meanwhile, the secondary component of the transaction offers liquidity to early investors and employees, reflecting both the company’s maturity and sustained investor interest.
IDfy’s growth comes at a time when demand for digital identity verification and fraud prevention tools continues to rise globally, driven by tightening regulatory requirements and the rapid digitisation of financial services and other industries.
As organisations look to balance compliance with seamless user experiences, RegTech platforms such as IDfy are positioning themselves as critical infrastructure providers.
The company has now raised more than $120m to date. This total includes a previous $27m funding round backed by Elev8, KB Investment and Tenacity, underscoring continued investor confidence in its long-term strategy and market opportunity.
Copyright © 2026 RegTech Analyst
Copyright © 2018 RegTech Analyst
