Elev8 Enterprise Companions is a maiden development stage fund of South Korea’s KB Funding, which additionally participated within the spherical together with Tenacity Ventures.
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Based in 2011 by Ashok Hariharan and Vineet Jawa, IDfy presents options for know-your-customer (KYC), know-your-business (KYB), worker background verification, threat and fraud mitigation, digital onboarding and digital privateness.
It counts amongst its shoppers HDFC Financial institution, Axis Financial institution, Zomato, PhonePe, Paytm, HUL and American Categorical.
“Funding from Elev8 and Tenacity is a powerful validation of our imaginative and prescient and capabilities. The funds will gas our enlargement plans and product growth, enabling us to serve much more companies and unlock alternatives for reliable folks and companies,” mentioned IDfy CEO Ashok Hariharan.
IDfy claims to run greater than 60 million verifications each month.
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“We’re thrilled to accomplice with IDfy as our first funding. The corporate’s progressive know-how, skilled management group and powerful market match place it for outstanding development,” mentioned Navin Honagudi, managing accomplice, Elev8 Enterprise Companions.In October 2021, IDfy had raised Rs 86 crore in funding led by TransUnion and Blume Ventures.
