Indian Regtech IDfy Raises $52M to Expand Global Footprint

Trust and privacy-focused platform aims to accelerate innovation and strategic growth with fresh funding

Indian identity verification and regulatory technology firm IDfy has successfully raised over $52 million (₹476 crore) in its Series F funding round, combining primary and secondary investments. Of the total, $24 million (₹220 crore) comes as primary funding, while $28 million (₹256 crore) is allocated for secondary purposes, such as providing liquidity to early investors and employees.

The primary round was led by Neo Asset Management, with continued support from investors including Blume Ventures, Analog Capital, Elev8 Venture Partners, Indiamart, and Kae Capital. Secondary funding involved contributions from TransUnion, Dream Incubator, angel investors, and previous employees.

In a statement on LinkedIn, IDfy highlighted that the new funds would “help us accelerate global expansion, invest in strategic acquisitions, and deepen innovation across our trust and privacy stack.” The company described the Series F raise as a “major milestone” in its mission to strengthen its TrustStack suite, which powers digital onboarding, risk management, and privacy governance for businesses.

Founded in 2010, IDfy provides solutions for KYC, KYB, onboarding risk management, and privacy compliance, serving over 500 clients and processing around 2 million verifications daily. This latest funding builds on its $17 million round in 2024, bringing its total raised to $62.7 million across 12 funding rounds, according to Tracxn.

With the new capital, IDfy is poised to expand its footprint globally while continuing to innovate in the fast-evolving regtech space, helping companies manage compliance, mitigate fraud, and protect customer data more efficiently.