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Idfy

Can a vertically integrated identity and verification platform become the trust infrastructure layer for digital onboarding across emerging markets, particularly India?

Founded2011
HQMumbai, Maharashtra, India
Total raised$107.0M
IndustryInfrastructure / KYC
The story

Founded around 2011, IDfy grew into an integrated identity platform serving large Indian enterprises across KYC, KYB, background verification, and digital onboarding. The company expanded its product suite to 150+ APIs for document verification and developed RiskAI, a commercial lending underwriting solution for Indian businesses. IDfy has grown to 577 employees and operates across 9 countries, processing approximately 2 million daily verifications for customers including HDFC Bank, Dream11, Amazon, and Zomato.

Last 12 months
Product timeline
2011
IDfy (Baldor Technologies Private Limited) founded in Mumbai as an identity verification and KYC technology company.· pivot
2023
IDfy recognized on Deloitte Technology Fast 50 list and Forbes Asia 100 Watchlist for fast growth.· milestone
The stack
Lending
RiskAI (commercial loan underwriting solution)KYC/KYB for lending onboarding (RBI guidelines)E-sign/E-stamp via Aadhaar e-sign for loan documentationAML and legal history monitoring for lendersGST/ITR/bank statement income verification
Accounting gap: none