OTPless, an authentication and access management platform, has secured $3.5 million in a pre-Series A funding round.
The round was led by the Small Industries Development Bank of India (SIDBI) and saw participation from prominent investors including Venture Highway, FJ Labs, and Piper Serica.
Founded by the fintech unicorn BharatPe’s founding members—Bhavik Koladiya, Satyam Nathani, and Tanmay Sagar—OTPless aims to eliminate the need for one-time passwords (OTPs). Instead, it offers a seamless sign-up and sign-in experience on websites and apps through various accounts such as Google, iMessage, Microsoft, Github, Slack, and UPI. The platform also employs modern protocols like passkeys, network authorization, protected SMS, and device fingerprinting for enhanced security.
Prior to this funding round, OTPless raised $2.7 million in seed funding from notable investors including Neeraj Arora, Kunal Shah, Amrish Rau, Jitendra Gupta, Utsav Somani, Amit Jain, Fabrice Grinda, and Luke Skertich. This latest investment brings the total funds raised by the startup to $6.5 million.
The funds will be used to expand OTPless’s global presence and enhance its service offerings. The company aims to extend its capabilities beyond authentication to include authorization, which involves not only identifying users but also determining their permissions.
“Our vision is to revolutionize user authentication by making it simpler, faster, and more secure. This funding will help us scale our operations and enhance our technology to meet the growing global demand,” said Bhavik Koladiya, co-founder of OTPless.
“We are committed to providing the best possible experience for our users and partners, and this investment will enable us to continue innovating and expanding our capabilities,” he added.
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OTPless’s platform offers easy integration for developers through its SDKs and APIs, allowing them to go live within minutes using pre-built user interfaces or customizing from scratch.
The company has developed a silent network authentication system in collaboration with telecom operators. This system verifies user identity without any user input, utilizing the mobile network for seamless authentication.
Currently, OTPless serves over 5,000 companies and 20,000 developers worldwide, authenticating more than 30 million users.
