Khaitan & Co, and Trilegal advised on IDfy’s INR 476 Crore Series F fundraise led by Neo Secondaries Fund.

IDfy (Baldor Technologies Private Limited), an Indian technology company specialising in identity verification, risk and compliance, and consent governance solutions, raised approximately INR 476 crore in its Series F funding round.

The round was led by Neo Secondaries Fund, with participation from existing investors including Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. The investment comprises both primary and secondary components and is expected to support IDfy’s continued growth and expansion, particularly in light of India’s evolving regulatory landscape, including the Digital Personal Data Protection Act, 2023. The transaction highlights sustained investor confidence in India’s fast-growing regulatory technology and digital trust ecosystem.

Khaitan & Co advised IDfy and its promoter on the transaction.

The deal team included Prithwijit Gangopadhyay, Sruti Baid, Vibhav Seth, and Ishika Sinha.

Trilegal advised Neo Secondaries Fund on its primary and secondary investment in Baldor Technologies (IDfy).

The Corporate team was led by Partner Kunal Chandra, supported by Senior Associates Aditya Nandakumar and Kunal Paleja, and Associates Sharnam Vaswani and Nipun Chandrakar. The Competition team was led by Partner Gautam Chawla, supported by Senior Associate Shruthi Narayan Rao and Associate Shambhavi Sirothia.