IDfy has raised Rs 86 crore or about $11.5 million in its Series D round

IDfy, an ID verification startup, has raised Rs 86 crore or about $11.5 million in its Series D round drove by TransUnion and Blume Ventures.

According to the Mumbai-based startup, the assets will be utilized to fortify its item offerings and expand its business and operations.

Established in 2011 by Ashok Hariharan, Vineet Jawa and Hatim Baheranwala, IDfy assembles innovation items and arrangements that accurately authenticate substances. This assists businesses with preventing fraud and engage with checked substances with the least amount of erosion.

Its AI-based platform is utilized by organizations to streamline and automate their KYC, worker and merchant onboarding.

IDfy’s customers and partners are spread across India, South East Asia, and the Middle East. The rundown includes any semblance of Amazon, Airbnb, HDFC Bank, Dream11, and VISA.

It’s important that Blume Ventures has been an investor in the company since the seed round raised in 2012.