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.
Khaitan & Co advised IDfy and its promoter on this fundraise. The Firm's scope of work included drafting, negotiating, finalising and execution of the share purchase agreements, share subscription agreement and shareholders agreement; assisting and advising on all execution related formalities; and assisting and advising on completion of conditions precedents set out in the definitive agreements and closing related formalities.
The transaction team consisted of Prithwijit Gangopadhyay (Partner), Sruti Baid (Principal Associate), Vibhav Seth (Senior Associate) and Ishika Sinha (Associate).
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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