RegTech startup IDfy has raised ₹476 crore in a funding round led by Neo Asset Management, with participation from existing investors. The funding marks a significant milestone for the company as it aims to expand its technology capabilities and strengthen its position in the identity verification and risk intelligence space.
Funding Utilisation And Growth Strategy
The fresh capital will be deployed to strengthen IDfy’s technology stack, enhance artificial intelligence and automation capabilities, and accelerate global market expansion. The company also plans to invest in product innovation and scale enterprise adoption across regulated sectors such as financial services, fintech, e-commerce, and digital platforms.
Product Offering And Market Position
Founded in 2011 by Ashok Hariharan and Balaji Viswanathan, IDfy provides digital verification, fraud detection, and risk intelligence solutions for businesses. The platform helps organisations verify customer identities, conduct background checks, and ensure compliance with regulatory requirements.
IDfy’s solutions are widely used across sectors including banking, lending, insurance, gaming, mobility, and online marketplaces. The company leverages AI, machine learning, and data intelligence to automate verification workflows and reduce onboarding risks while improving compliance efficiency.
Market Opportunity And Expansion Outlook
The rapid growth of digital services, online transactions, and regulatory compliance requirements has increased demand for regtech solutions globally. IDfy aims to capitalise on this opportunity by expanding its product suite and strengthening its presence in international markets.
The company continues to focus on helping enterprises reduce fraud, enhance trust, and streamline digital onboarding experiences. With increasing regulatory scrutiny across industries, IDfy is positioning itself as a critical infrastructure layer for digital identity verification and risk management.
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