Indiamart Intermesh (IndiaMART) announced an investment of Rs 89.69 crore in M/s Baldor Technologies (IDfy). This investment marks a 10% minority stake acquisition for IndiaMART.

Founded in 2011, IDfy is an Integrated Identity Platform offering products and solutions for KYC, Background Verifications, Risk Mitigation, Digital Onboarding and Digital Privacy. IDfy establishes trust while delivering a frictionless experience for employees, customers and partners. IDfy combines enterprise-grade technology with the widest breadth of offerings in the industry. With more than 12+ years of experience and 2 million verifications per day, they are pioneers in this industry.