Indian identity verification firm IDfy raises $23M at $256M valuation

India-based digital identity verification startup IDfy has raised 2.2 billion rupees (US$23 million) at a post-money valuation of 24.2 billion rupees (US$ 256.4 million). The funding will help develop risk-detection tools that will complement its customer onboarding, fraud detection, risk management and compliance solutions.

The financing news was confirmed by an investor to Tech In Asia, who adds that the round closed in June 2026.

The fresh funding comes after IDfy secured $52 million in February as part of its Series F funding round, led by Neo Asset Management. The company said at the time it aims to pursue its digital trust services plan in India under what it calls “TrustStack.” Before that, it obtained $27 million in 2024.

Founded in 2011, IDfy currently employs 600 people across seven countries. The Mumbai-headquartered firm provides know-your-customer (KYC) coupled with risk data from its CrimeCheck subsidiary, which contains data from more than 330 million court cases and 30 million police records across India. It also offers a vehicle-risk product called VehiClear.

Earlier this year, IDfy said it plans to be IPO-ready in two to three years, with a potential listing within five years.

Article Topics

funding  |  identity verification  |  IDfy  |  India  |  KYC