Identity verification startup IDfy is raising Rs 220 crore (around $25 million) in a fresh funding round led by Neo Asset Management, with participation from existing investors Emerald, Elev8, and others.
The board at IDfy passed a special resolution to issue 24,39,850 Series F compulsorily convertible preference shares at an issue price of Rs 901.7 each to raise Rs 220 crore, filings with the Registrar of Companies show.
Neo Asset Management, through its funds, will lead the round with an investment of Rs 189 crore. Blume Ventures will invest Rs 4.45…

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