Baldor Technologies Private Limited, dba IDfy, has raised ₹476 crore from a Series F fundraise led by Neo Secondaries Fund, with participation from existing investors including Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital.

Trilegal advised lead investor Neo Secondaries Fund on this fundraise.

The transaction team was led by Kunal Chandra (Partner), with support from Aditya Nandakumar (Senior Associate), Kunal Paleja (Senior Associate), Associates Sharnam Vaswani and Nipun Chandrakar.

Gautam Chawla (Partner), Shruthi Narayan Rao (Senior Associate) and Shambhavi Sirothia (Associate) advised on competition law aspects.

IDfy is an Indian technology company engaged in identity verification and authentication, risk and compliance, and consent governance and management solutions, serving banks, non-banking financial companies, consumer companies and enterprises across multiple sectors and jurisdictions.

The proceeds are expected to support IDfy's continued growth and expansion.

The transaction underscores sustained investor confidence in India's fast-growing regulatory technology and digital trust ecosystem. Positioned at the intersection of compliance, data privacy, and technology, IDfy is well-positioned to capitalise on the increasing regulatory emphasis on identity verification and data protection.

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