IDfy

What IDfy does

IDfy (legally Baldor Technologies Pvt Ltd, founded 2011 in Mumbai) is an integrated identity verification and trust infrastructure platform serving 500+ enterprise clients across India, Southeast Asia, and the Middle East. The company processes 70M+ monthly verifications and reports 15M+ frauds prevented on the platform. Its product architecture is a unified 'TrustStack' composed of three pillars: OnboardIQ (omnichannel onboarding with Video KYC, KYC API Suite, Background Verification, and the IDfy360 no-code self-serve layer), OneRisk (an AI-driven risk platform with InstaScreen, Transaction Intelligence Platform, CrimeCheck, NetScan, and VehiClear drawing on 500+ risk signals and 400M+ records), and Privy (a DPDPA-aligned privacy and consent governance platform with Inspect AI co-pilot and Data Compass). The platform integrates with India's regulatory and bureau rails (CIBIL, Aadhaar, DigiLocker, MCA, GST, RTO, Account Aggregator, EPFO/ESIC) and holds SOC 2 Type II, ISO 27001, and iBeta PAD certifications.

IDfy monetizes through a mix of enterprise SaaS subscriptions to the TrustStack, usage-based per-verification and per-attempt API pricing (typical for KYC, video KYC, background checks, and risk signal consumption), and professional services tied to deployment, integration, and acquisition-led international expansion. Pricing is quote-based for enterprise and self-serve via IDfy360 for smaller customers. Go-to-market is sales-led with vertical AEs across Banking, Payments, Insurance, NBFC, Consumer & Commerce, and Investment & Wealth, supplemented by a four-tier partner program (Technology, Solution, Consulting, Strategic) with revenue-sharing for SaaS platforms, marketplaces, lending apps, CRMs, HRMS, and BGV platforms, plus an API marketplace motion for developers.

FY25 operating revenue was INR 186 crore (up from INR 145 crore in FY24), delivering the company's first profitable year at INR 1.6 crore net profit; the firm raised ~USD 53M in Series F in Feb 2026 and an additional USD 23M in Jun 2026 at a USD 256.4M post-money valuation. Headcount stands at 600 across 7 countries, with IndiaMART holding a 10% strategic stake, TransUnion and Neo Asset Management as lead investors, and explicit management intent to be IPO-ready within 2-5 years.

Name

IDfy

Legal name

Baldor Technologies Pvt Ltd

Website

https://www.idfy.com/

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

IDfy is a Mumbai-based identity verification and trust infrastructure platform serving 500+ enterprise clients across banking, payments, insurance, NBFCs, and consumer commerce via its integrated TrustStack covering onboarding (OnboardIQ), AI-driven risk intelligence (OneRisk), and DPDPA-aligned privacy governance (Privy), processing 70M+ monthly verifications.

Ownership category

akta.pro rank

Product category

Identity Verification & KYC Platform

NAICS

Computer Systems Design and Related Services (54151)

SIC

Finance Services (6199)

akta.pro primary industry

Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

akta.pro secondary industry

Risk Scoring, Credit & Fraud Analytics (counterparty/wallet risk) (FSAPAJAF)

Keywords

• Identity verification platform
• KYC compliance solutions
• Background verification services
• Fraud risk management
• Privacy governance platform

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Enterprise SaaS subscriptions: Recurring revenue from enterprise clients (500+ active clients) subscribing to the TrustStack platform comprising OnboardIQ, OneRisk, and Privy modules. Long-term contracts with BFSI, insurance, NBFC, fintech, consumer commerce, and wealth management enterprises.
2. Usage-based verification API pricing: Per-verification or per-attempt API consumption pricing for KYC, identity verification, background checks, video KYC, fraud screening, and risk signal consumption (e.g., 70M+ monthly verifications at scale).
3. Professional services and implementation: Custom integration, deployment, and managed services revenue including acquisition-led growth via M&A advisory and platform integration services for international expansion.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels9 records

Core offering

IDfy operates an AI/ML-driven integrated platform called the "TrustStack" that governs the customer, workforce, and partner trust lifecycle through three core product pillars: OnboardIQ (unified omnichannel onboarding, Video KYC, Background Verification, KYC API Suite, and the no-code IDfy360 DIY experience), OneRisk (multi-dimensional risk and fraud management using 500+ risk signals, Transaction Intelligence Platform for cash-flow underwriting, CrimeCheck with 33Cr+ records, InstaScreen, NetScan, and VehiClear), and Privy (DPDP Act-aligned privacy governance with Inspect AI co-pilot, Data Compass, consent lifecycle, and third-party risk). It is sold as enterprise SaaS subscriptions and usage-based API pricing to banks, payments, insurance, NBFCs, and consumer commerce enterprises across India and seven countries.

Product overview

IDfy offers a single unified platform architecture called the 'TrustStack' that governs the trust lifecycle of customers, workforce, and partners across onboarding, risk and fraud, and privacy. The platform is composed of three primary pillars: OnboardIQ (the unified onboarding engine for branch, assisted, and DIY journeys, including the IDfy 360 no-code experience, the KYC API Suite, Video KYC, and Background Verification), OneRisk (the AI-driven, multi-dimensional risk and fraud management platform built on InstaScreen, Transaction Intelligence Platform, CrimeCheck, NetScan, and VehiClear), and Privy (India's full-stack DPDPA compliance and privacy governance platform with three pillars and seven modules including Consent Lifecycle Management, Data Principal Rights Management, Cookie Manager, PIAs, Incident Management, TPRM, and Data Compass). The whole stack is tied together by Inspect AI, an AI privacy co-pilot. RiskAI is highlighted as the underlying AI risk-scoring engine across the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• OnboardIQ: IDfy's unified, intelligence-led onboarding platform enabling banks, insurance, NBFCs, and other enterprises to deliver consistent onboarding journeys across branch, assisted, and digital channels.
• OneRisk
• Privy

Products and services

• TrustStack IDfy's overarching unified platform — described as 'Asia's leading TrustStack' — that governs the trust lifecycle of customers, workforce, and partners, bundling onboarding, risk, fraud, compliance, and privacy capabilities through three primary pillars: OnboardIQ, OneRisk, and Privy, plus the Inspect AI co-pilot layer.
• OnboardIQ Unified, intelligence-led onboarding platform that unifies branch, assisted, RM/DSA, and DIY digital channels into a single onboarding engine with affluence and risk signals, maker-checker flows, and no-code workflows. Powers the KYC API Suite, Video Solutions, Background Verification, and the IDfy 360 DIY experience for banks, insurance, NBFCs, fintechs, and eCommerce enterprises.
• OneRisk AI-driven, multi-dimensional risk and fraud management platform that connects 500+ signals across identity, integrity, intent, income, and influence into a unified real-time risk view. Composed of InstaScreen, Transaction Intelligence Platform (TIP), CrimeCheck, NetScan, and VehiClear, with sub-200ms API responses and explainable risk decisions for banks, payments, NBFCs, insurance, and consumer commerce enterprises.
• Privy India's full-stack DPDP Act compliance and privacy governance platform, organized into 3 pillars (Consent Control, Continuous Compliance & Risk Management, Data Discovery & Governance) and 7 connected modules including Consent Lifecycle Management, DPRM, Cookie Manager, PIAs, Incident Management, TPRM, and Data Compass, powered by the Inspect AI co-pilot. Targets CISOs, DPOs, and compliance teams needing a DPDP Act-aligned privacy stack with 90-day implementation.
• IDfy 360 No-code, end-to-end DIY onboarding product within the OnboardIQ suite that allows customers to launch onboarding in 1 day with high conversions. Features customizable drag-and-drop workflows and white-labeling capability, used for self-serve onboarding journeys across banking, NBFC, fintech, and eCommerce flows.
• KYC API Suite Suite of 500+ enterprise APIs and plug-and-play SDKs for identification and verification — including eKYC, CKYC, DigiLocker, Aadhaar XML, PAN, and video verification — designed to integrate with customer and partner workflows as part of the OnboardIQ platform. Delivers sub-200ms response times with 99.9% uptime SLA.

Quantifiable outcome

• 50% faster underwriting for NBFCs (vehicle, housing, SME loans)
• +11 more outcomes

Named customers17 records

Segments8 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability13 records

Feature8 records

Partnerships

17 partnerships are on record, tiered strategic cloud and gtm partner, technology infrastructure partner, consulting / implementation partner, channel / integration partner, channel / api integration partner, hrms / bgv integration partner, strategic dpdp compliance co-sell partner, flagship banking co-development partner for privy, industry affiliation partner and co-winner of meity consent management innovation challenge.

• Amazon Web Services (AWS)strategic cloud and gtm partnerTechnology or IntegrationIDfy is a partner in the AWS Financial Services and Fintech ecosystem. Vijay Rajagopal (GTM Head at AWS) is publicly quoted praising IDfy's responsiveness, agility, and dynamism across onboarding, compliance, and risk. Also a long-standing customer of IDfy for delivery partner onboarding (2 delivery executives per minute during the pandemic).
• Google Cloudtechnology infrastructure partnerTechnology or IntegrationTechnology partner in the IDfy partner program. Displayed as a named partner on the 'Our Partners' page.
• EY (Ernst & Young)consulting / implementation partnerStrategic or Co-development PartnerEY is a named consulting/strategic partner in the IDfy partner program, supporting implementation and advisory engagements.
• Haptikchannel / integration partnerTechnology or IntegrationStrategic partner for customer verification and onboarding. Ashwin Rao Mandre (Head of Partnerships & Alliances at Haptik) publicly endorses IDfy as a reliable, agile partner with deep understanding of identity verification.
• Setuchannel / api integration partnerTechnology or IntegrationSetu is an important partner in IDfy's identity stack. Kaushal Mohan (Principal Product Manager at Setu) publicly endorses IDfy's clean APIs, thorough documentation, and developer-friendly integration.
• TurboHirehrms / bgv integration partnerTechnology or IntegrationHR tech platform that integrates IDfy's BGV APIs for employee onboarding. Shöan Shinde (CMO of TurboHire) publicly endorses the seamless integration and reliable background verification.
• Lentrachannel / integration partnerTechnology or IntegrationNamed partner in IDfy's 'Our Partners' page — likely a lending technology platform integration.
• PeopleStronghrms / bgv integration partnerTechnology or IntegrationHR technology platform partner displayed on the 'Our Partners' page.
• Decimal Techchannel / integration partnerTechnology or IntegrationNamed partner on IDfy's 'Our Partners' page.
• Jocatachannel / integration partnerTechnology or IntegrationNamed partner on IDfy's 'Our Partners' page.
• Veefin Groupchannel / integration partnerTechnology or IntegrationNamed partner on IDfy's 'Our Partners' page.
• Hotfootchannel / integration partnerTechnology or IntegrationNamed partner on IDfy's 'Our Partners' page.
• SysArcchannel / integration partnerTechnology or IntegrationNamed partner on IDfy's 'Our Partners' page.
• 63SATS Cybertech (63 moons technologies)strategic dpdp compliance co-sell partnerStrategic or Co-development Partner63SATS Cybertech (cybersecurity arm of 63 moons technologies) partners with IDfy for DPDP Act compliance services. IDfy is one of several solutions providers (alongside GoTrust, RNR, Qila.io) embedded in 63SATS' CyberSecurity Force enterprise solution and CYBX mobile app. Reaches 80 major clients including government entities, PSUs, and critical infrastructure operators.
• Axis Bankflagship banking co-development partner for privyStrategic or Co-development PartnerAxis Bank is a flagship customer and co-development partner for IDfy's Privy privacy platform. The partnership is recognized as an award on the Privy product page.
• Data Security Council of India (DSCI)industry affiliation partnerStrategic or Co-development PartnerPrivy is partnered with DSCI and trusted by RBI, SEBI, and IRDAI to deliver DPDPA-ready privacy frameworks.
• Jio Platforms (Reliance)co-winner of meity consent management innovation challengeStrategic or Co-development PartnerCo-selected with IDfy as winners of the MeitY 'Code for Consent' / Consent Management Systems Innovation Challenge under the DPDPA framework — the largest emerging data-governance opportunity in India.

Scale indicators18 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Signzy: India-based digital onboarding and KYC platform serving banks, NBFCs, and fintechs with video KYC, AML, and risk-scoring APIs. Directly competes with IDfy's OnboardIQ and OneRisk modules in the same enterprise BFSI buyer base.
• Bureau (formerly Uniken): India-headquartered identity verification and fraud prevention platform offering KYC, AML, device intelligence, and risk decisioning to financial institutions. Overlaps directly with IDfy's OneRisk and TrustStack fraud prevention capabilities.
• HyperVerge: Indian AI-driven identity verification and KYC provider serving banks, fintechs, and consumer apps with face match, liveness, and document OCR. Competes directly with IDfy's video KYC and IDfy360 onboarding APIs.
• AuthBridge: India-based background verification and identity verification company serving enterprises and gig platforms. Direct overlap with IDfy's Background Verification and workforce trust offerings, especially in HR-tech and gig economy segments.
• Veriff: Global identity verification platform offering AI-powered KYC, AML, and age verification. Direct competition for IDfy's video KYC, liveness, and document verification modules, with growing India and SEA presence.
• Onfido (Entrust): Global identity verification provider (now part of Entrust) offering AI-led document and biometric verification. Competes directly with IDfy's KYC API Suite and passive liveness capabilities for enterprise and fintech clients.
• Sumsub: Global full-cycle verification platform covering KYC, KYB, AML, and fraud prevention. Direct competitor to IDfy's TrustStack with strong presence across emerging markets and aggressive India expansion.
• Trulioo: Global identity verification network covering 450+ data sources for business and individual verification. Comparable to IDfy's multi-signal OneRisk platform and competing for the same enterprise/compliance buyer personas.
• Persona: Unified identity platform offering KYC, AML, fraud detection, and orchestration for global enterprises. Competes with IDfy on configurability, no-code workflows, and ongoing trust monitoring beyond onboarding.
• Jumio: Global AI-powered identity verification, eKYC, and AML platform serving banks, fintechs, and enterprises. Comparable in scale, enterprise focus, and AI-led fraud prevention, with growing India and Asia-Pacific footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/getidfyed
• Facebookfacebook.com/getIDfyed
• LinkedInlinkedin.com/company/idfy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds13 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IDfy