About MageID
MageID is an Industrial Goods & Manufacturing company based in Ahmedabad (India) founded in 2015 by Hiren Bhandari. Video-based KYC solutions are delivered for various sectors. It operates in the Industrial Goods & Manufacturing, Financial Services, and Technology sectors. The company has 505 employees. Its Indian entity Mantra Softech (India) Private Limited reported revenue of ₹424 Cr. Its focus areas include FinTech, RegTech, KYC and Enterprise Infrastructure. Its competitors include Perfios and IDfy; 2 of its 2 listed competitors have raised funding.
Company details
MageID was founded in 2015 in Ahmedabad, India, focusing on video-based KYC solutions across multiple sectors. Connections between agents and customers are enabled through video calls for ID document verification and biometric examinations. AI-driven face matching is applied during these calls, alongside customer database authentication, Aadhaar card checks, online appointment booking portals, and facial recognition APIs for integration with existing systems. Operations support compliance needs in regulated industries.
- Headquarters Ahmedabad, India
- Employees 505
- Founders Hiren Bhandari
- SectorsIndustrial Goods & ManufacturingFinancial Services Technology
- Email••••••••
- Phone•••• ••••
- Website mageid.com
- Legal Name Mantra Softech (India) Private Limited
- Date of Incorporation 06 Apr, 2006
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹424 Cr
FY 2025 · +12% YoY
- Net Profit₹55.75 Cr
FY 2025 · 13% margin
- EBITDA₹90.55 Cr
FY 2025 · 21% margin
- Employee Count505
Associated legal entities of MageID
MageID operates through Mantra Softech (India) Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Mantra Softech (India) Private Limited CIN U72200GJ2006PTC048092 | Active | 06 Apr 2006 | Ahmedabad, Gujarat | ₹424 Cr | 505 | 5 | View details |
Board of directors of Mantra Softech (India) Private Limited (MageID)
Mantra Softech (India) Private Limited is the primary company behind MageID. The board of Mantra Softech (India) Private Limited currently have 4 directors; the longest-serving is Hiren Bhandari, appointed in 2006. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Hiren Bhandari DIN 00466915 | Director | 06 Apr 2006 | 20 yrs 6 mo | Mantra Softech (India) Private Limited |
| Bhavyen Bhandari DIN 01971232 | Director | 06 Apr 2006 | 20 yrs 6 mo | Mantra Softech (India) Private Limited |
| Subhash Phoolchand Joshi DIN 07187385 | Director | 21 Jul 2025 | 1 yr 3 mo | Mantra Softech (India) Private Limited |
| Vishal Katkoria DIN 11251509 | Nominee Director | 17 Sep 2025 | 1 yr 1 mo | Mantra Softech (India) Private Limited |
People of MageID
1 people are tracked at MageID (1 in leadership); the tracked headcount is 505.
| Name | Role | Group |
|---|---|---|
| Founder | Leadership |
Complete people profiles for MageID
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Financials of MageID
Figures of Mantra Softech (India) Private Limited, the primary company behind MageID, for FY 2025. Revenue was ₹424 Cr (+12% year on year). Net profit was ₹55.75 Cr (13% margin). EBITDA was ₹90.55 Cr (21% margin). Revenue has grown at a compounded annual rate of +22% over three years.
- ₹424 CrRevenue · FY 2025 · +12% YoY
- ₹55.75 CrNet profit · 13% margin
- ₹90.55 CrEBITDA · 21% margin
- ₹16.73 CrPaid-up capital
- 505Employees (provident fund records)
- +22%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Mantra Softech (India) Private Limited are on its company page.
Detailed financial statements for MageID
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Competitors of MageID
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| perfios.com | 2008 | Bengaluru, India | $258.77M | Provides financial technology solutions for data analysis and verification globally. | ||
| idfy.com | 2011 | Mumbai, India | $56.03M | 587 | Identity verification, background screening, and fraud prevention solutions are provided. |
Detailed competitors of MageID
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Related news about Mageid
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Frequently Asked Questions about MageID
MageID was founded in 2015.
MageID is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
MageID has 505 employees.
The primary company behind MageID, Mantra Softech (India) Private Limited, reported revenue of ₹424 Cr for FY 2025, up 12% year on year.
MageID was founded in 2015 in Ahmedabad, India, focusing on video-based KYC solutions across multiple sectors. Connections between agents and customers are enabled through video calls for ID document verification and biometric examinations. AI-driven face matching is applied during these calls, alongside customer database authentication, Aadhaar card checks, online appointment booking portals, and facial recognition APIs for integration with existing systems. Operations support compliance needs in regulated industries.
MageID operates through Mantra Softech (India) Private Limited.
The legal entities of MageID currently have 5 directors, including Hiren Bhandari, Bhavyen Bhandari, Aarti Mahendrakumar Jain and others.