IDfy, Mumbai-based ID verification and onboarding solutions company, has raised Rs 86 crore in its series D round of funding led by TransUnion and Blume Ventures. IDfy (Baldor Technologies Pvt. Ltd.) builds technology products and solutions that authenticate entities. This helps businesses prevent fraud and engage with verified entities with the least amount of friction.

• Stocks Under F&O Ban: Steel Authority of India, and Others
• United Spirits Gets Relief As FSSAI Revokes Two Orders
• Zydus Gets USFDA Nod For Ascorbic Acid Injection
• Puravankara Rises After Rs 175 Crore Chennai Hotel Order
• Zodiac Energy Gains After Winning UP Solar Plant Order

Ashok Hariharan, founder & CEO, IDfy, said, “A billion more people globally are expected to enter the formal economy over the next five years. Our partnership with TransUnion gives us the chance to drive this change on a global scale. Blume Ventures has believed in us from day one.”

IDfy plans to use these funds to strengthen its product offerings and expand it’s business and operations. IDfy is growing its business internationally. During the last six months, IDfy has been helping companies in South East Asia and the Middle East onboard verified merchants and customers in payments, e-commerce, and mobility. IDfy has performed more than 70 million verifications for 500+ clients and consistently ranks amongst Asia’s Top 5 Regulatory Technology companies.