Invoid
Invoid, based in Gurugram, India, specializes in identity verification and fraud prevention solutions, processing over 5 million KYCs monthly and serving major banks and fintechs across India.
Company Overview
Invoid is a B2B company based in Gurugram, HR, India, with a team size of 15. The company operates primarily within India and South Asia but also supports remote and partly remote operations. Invoid is part of the Y-Combinator's W21 batch. It is a leading provider of identity verification, compliance, and fraud prevention solutions.
Key Clients and Regions
Invoid works with over 35 companies across India, including leading banks, fintechs, investment platforms, and shared economy companies. With a presence in India, South Asia, and remote locations, Invoid processes over 5 million KYCs per month. Their solutions have proven to increase onboarding speed by 5x and reduce costs by more than 80% for their clients.
Products and Solutions
Invoid offers a no-code Identity and Risk orchestration platform designed to handle processes from onboarding to KYC, compliance, and fraud management. The platform allows users to customize customer views through pre-integrated attributes for identity verification and fraud detection. Additionally, Invoid enables the creation of custom workflows for onboarding, KYC, AML, and transaction monitoring. The solution also features case management for collaborative case review, compliance management, and insight generation.
Accreditations and Standards
Invoid holds several important accreditations and memberships, including ISO/IEC 27001 certification, FIDO Alliance membership, SOC 2 Type 2 compliance, and GSMA membership. These accreditations attest to their high standards in information security and regulatory compliance.
Investor Support
Invoid is supported by prominent investors including Quona Capital, XYZ Ventures, Blume Ventures, Village Global, Okta Ventures, and GMO VenturePartners. This backing reflects strong confidence in Invoid’s business model and growth potential within the identity verification and fraud prevention industry.