IDfy was founded in 2011 in Mumbai by Ashok Hariharan and Vineet Jawa with a focused ambition: to build the trust infrastructure that India’s digital economy would eventually require at scale. What began as a background verification business has grown into India’s most comprehensive integrated identity platform, covering KYC, employee background checks, video onboarding, document fraud detection, and privacy governance under a single technology stack.

The company processes over 60 million verifications, serving over 1,500 enterprise clients across banking, fintech, ecommerce, logistics, and FMCG. Customers include HDFC Bank, Razorpay, Zomato, and Amazon Pay, with operations spanning India, Southeast Asia, and the Middle East.
Elev8 invested in IDfy because it saw a company that had been building the right thing before the market made it obvious. Every digital transaction in India today requires a verification layer, and IDfy had spent over a decade building the most complete and technically sophisticated version of that layer available.