Idfy - About the company
Idfy is a series F company based in Mumbai (India), founded in 2011 by Hatim Baheranwala, Wriju Ray and Narayanswamy Hariharan. It operates as a Provider of a platform for identity verification and risk management. Idfy has raised $62.7M in funding from investors like Blume Venture, New Enterprise Associates and IndiaMART, with a current valuation of ₹*****. The company has 219 active competitors, including 53 funded and 19 that have exited. Its top competitors include companies like M2P Fintech, Jumio and Riskified.
Company Details
Provider of a platform for identity verification and risk management. The platform offers tools for customer and workforce governance throughout their lifecycle. It focuses on frictionless onboarding, verifiable identities, and faster revenue generation. The platform aims to reduce onboarding friction, prevent fraud, and accelerate time-to-revenue. It helps detect and mitigate risk in real time, reducing financial and operational losses. The platform also transforms compliance into a growth engine through centralized automation.
- Website
- idfy.com
- Email ID
- *****@idfy.com
- Phone Number
- +91 **********
- Registered Address
- 8th Floor, Skyline Icon, Andheri Kurla Road, Chimatpada, Marol, Andheri East, Mumbai City, Mumbai, Maharashtra, India, 400059
Key Metrics
Founded Year
2011
Location
Mumbai, India
Stage
Series F
Total Funding
$62.7M in 12 rounds
Latest Funding Round
Post Money Valuation
₹***** as on Mar 06, 2026
Investors
Ranked
1st among 219 active competitors
Annual Revenue
₹100 - ₹500 Cr as on Mar 31, 2025
Employee Count
697 as on Aug 31, 2025
Legal entities associated with Idfy
Idfy is associated with 2 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
BALDOR TECHNOLOGIES PRIVATE LIMITED CIN: U74900MH2011PTC291275 , India, Active | May 31, 2011 | ₹100 - ₹500 Cr (As on Mar 31, 2025) | 707 (As on May 01, 2026) | |
BALDOR TECHNOLOGIES ACCOUNT AGGREGATOR SERVICES PRIVATE LIMITED CIN: U72900MH2022PTC390812 , India, Active | Sep 20, 2022 | 0 - ₹10 Cr (As on Mar 31, 2025) | - |
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Idfy's funding and investors
Idfy has raised a total funding of $62.7M over 12 rounds. Its first funding round was on Mar 29, 2012. Its latest funding round was a Series F round on Feb 13, 2026 for $*****. 7 investors participated in its latest round. Idfy has 22 institutional investors and 20 angel investors.
Here is the list of recent funding rounds of Idfy:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Feb 13, 2026 | 1941513 | Series F | 2737429 | 6956930 | 5076481 | 1018504 |
May 30, 2024 | 2114307 | Series E | 7300633 | 9164770 | 2826545 | 7823265 |
Mar 06, 2024 | 1634916 | Series E | 7420567 | 1877796 |
Access funding benchmarks and valuations. Sign up today!View details of Idfy's funding rounds and investors
Idfy's founders and board of directors
Founder? Claim ProfileThe founders of Idfy are Hatim Baheranwala, Wriju Ray and Narayanswamy Hariharan. Ashok Hariharan is the CEO of Idfy.
Here are the details of Idfy's key team members:
- Hatim Baheranwala: Former Co-Founder of Idfy.
- Wriju Ray: Co-Founder & CBO of Idfy. Contact Info: 1 email address
- Narayanswamy Hariharan: Co-Founder of Idfy.
- Ashok Hariharan: Co-Founder & CEO of Idfy and founder of 2 other companies, Oneid and Checkwala. They are also an angel investor in 1 startup and serve on the boards of 2 companies.Contact Info: 1 email address and 1 phone number
Idfy's Board of Directors
Idfy's board has 8 active members. Navin Kotrappa Honagudi, Karthik Reddy Bezawada, Mayur Kapur, Rohit Razdan, Ashish Jaiprakash Shastry, Ashok Hariharan and Vineet Jawa are part of team and Vivek Trilokinath is independent board member.Here is the list of Idfy's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 15y 2m | |
Team | - | Current | 15y 2m | |
Investor | - | Current | 2y 2m | |
Investor | - | Current | 2y 2m | |
xesadxj | Investor | jrszsnt | Current | 5y 6m |
yskwrub | Investor | zfhz{vp | Past | 5y 8m |
ftzdij{ | Investor | - | Past | 2y 3m |
Independent board member | - | Current | 7y 10m |
View details of Idfy's Founder profiles and Board Members
Idfy's employee count trend
Idfy has 697 employees as of Aug 25. The total employee count is 34.0% more than what it was in Aug 24. Here is Idfy's employee count trend over the years:
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Idfy's Competitors and alternates
Top competitors of Idfy include M2P Fintech, Jumio and Riskified. Here is the list of Top 10 competitors of Idfy, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Provider of a platform for identity verification and risk management | $62.7M | 75/100 | ||
2nd | M2P Fintech 2014, Chennai (India), Series D | Provider of APIs enabling banking, lending, and payment financial services | $188M | 74/100 | |
3rd |  Jumio 2010, Sunnyvale (United States), Acquired | Provider of AI-powered identity verification solutions | $196M | 73/100 | |
4th |  Riskified 2013, New York City (United States), Public | AI-based payment fraud prevention solutions for e-commerce solution | $232M | 73/100 | |
5th | NICE Actimize 1999, Hoboken (United States), Acquired | Provider of AI-driven anti-money laundering and fraud detection solutions | $24M | 70/100 | |
6th |  Cashfree Payments 2015, Bengaluru (India), Series C | Provider of payment gateway and payouts, and identity verification services | $100M | 69/100 | |
7th | Provider of digital solutions for KYC, document management, and digital signatures | $11.9M | 69/100 | ||
8th | Operator of a platform providing data sharing and verification services | $42M | 69/100 | ||
9th |  HyperVerge 2014, Bengaluru (India), Seed | Provider of end-to-end KYC software and identity verification solutions | $1M | 68/100 | |
10th | Provider of APIs and platforms for data, KYC, and payments | $18.5M | 67/100 |
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on Idfy's competitors? Click here to see the top ones
Idfy's Latest cap tables and shareholding
Founders own 16.56%, Funds (largest shareholder) own 46.81%, Enterprises own 22.55% and Angels own 4.05%. The net worth of Idfy's founders is INR 401Cr as of Mar 06, 2026.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 16.56% | 401Cr | 6733976 | 3730695 | 6209495 | 1740318 |
Fund | 46.81% | 1,130Cr | 8907520 | 7362102 | 6119019 | 9255803 |
6539853 | 8014545 | 8797261 | 6081868 | 3392283 | 6402766 | |
5707 | 7735 | 3388 | 7712 | 7541 | 2360 | |
4862 | 9649 | 3974 | 5751 | 9873 | 4762 | |
1 | 1 | 6 | 8 | 4 | 6 | |
0 | 0 | 0 | 0 | 0 | 0 | |
0 | 0 | 0 | 0 | 0 | 0 | |
Enterprise | 22.55% | 546Cr | 5068357 | 1826708 | 4594420 | 8915450 |
Angel | 4.05% | 98.1Cr | 4960 | 3401 | 8535 | 2795 |
0 | 0 | 0 | 0 | 0 | 0 | |
Other People | 0.52% | 12.5Cr | 0 | 0 | 0 | 0 |
ESOP Pool | 9.51% | 230Cr | 1228935 | 1746473 | 8596102 | 5761791 |
Total | 100.00% | 2,420Cr | 9277100 | 7670379 | 5694177 | 3916333 |
To unlock detailed Cap Table of Idfy Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Idfy's Shareholding
Idfy's Investments and acquisitions
Idfy has made no investments or acquisitions yet.
Reports related to Idfy
Here is the latest report on Idfy's sector:
News related to Idfy
Filter this listMedia has covered Idfy for a total of 11 events in the last 1 year, 3 of them have been about company updates and 1 about people movement.
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IDfy Wins Indian Data Protection Challenge, Showcases Market-Ready Consent PlatformBiometricUpdate.com•Jul 10, 2026•Idfy
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IDfy Raises $53 Mn Led by Neo Secondaries FundEntrackr•Feb 13, 2026•Idfy, Analog Capital, Blume Venture, Kae Capital and 2 others
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IDfy set to raise $25 Mn led by Neo Asset ManagementEntrackr•Feb 11, 2026•Neo Asset Management, Emerald, Idfy
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Blume, Elev8-backed IDfy set to raise new funding roundVCCircle•Jan 12, 2026•Elev8, Blume Venture, Idfy
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IDfy Completes SOC 2 Type II Attestation, Strengthening Data Security and Operational ExcellenceAsian News International•Feb 28, 2025•Idfy
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