Equal, a data-sharing and identity verification platform, has raised $10 million in a Series A funding round. The round was led by Prosus Ventures, Tomales Bay Capital, and the company’s founder, Keshav Reddy, at a post-money valuation of $80 million.
The funding round also saw participation from several prominent investors, including Blume Ventures (Founders Fund), DST Global, Quona VC, Gruhas VC (Nikhil Kamath), Binny Bansal (Co-founder, Flipkart), Harsh Jain (Founder, Dream11), Karan Adani (Managing Director, Adani Ports), D S Brar (Chairman, Aragen), and Kunal Shah (Founder, CRED).
Equal, founded by Keshav Reddy and Rajeev Ranjan, helps businesses streamline their KYC (Know Your Customer) processes, fraud prevention, and regulatory compliance through easy integration with over 50 ID databases and more than 4,000 API providers. The startup recently invested in OneMoney, an account aggregator, which will enable Equal to enhance its offerings by combining secure, consent-driven financial data sharing with its core identity verification services. According to the company, OneMoney and Equal jointly enable over 64 million monthly transactions and serve more than 250 clients nationwide.
The fresh funds will be used to ramp up operations, forge strategic partnerships, and develop an integrated, secure, and transparent digital framework. Equal competes with other identity verification players in the market, such as IDfy, SpringVerify, AuthBridge, Digio, and Perfios-owned Karza.
