Equal, a data-sharing and identity verification platform has raised $10 million in its Series-A funding round led by Prosus Ventures, Tomales Bay Capital and its founder, Keshav Reddy, at a post-money valuation of $80 million.
The round included other top tier investors such as 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), Kunal Shah (Founder, CRED), Kunal Bahl (Co-founder, Titan Capital), Rohit Bansal (Co-founder, Titan Capital), Parth Jindal (Managing Director, JSW Cements), Ranu Vohra (Co-founder, Avendus Capital), Shashin Shah (CEO, Think Investments), Galina Chifina (Asia Head, RTP Global), Ravish Naresh (Founder, Khatabook), Ravi Kumar and Kavitha Subramanian (Co-founders, Upstox).
The company plans to use the funds to scale operations, forge strategic partnerships, and develop an integrated, secure, and transparent digital framework aimed at enhancing the data-sharing ecosystem in India.
Keshav Reddy, Founder, Equal, said, “Our vision is to serve Indians for all their needs. Our journey is rooted in the idea that secure, consent-driven data sharing can unlock new opportunities for all Indians. With this fundraise, and our partnership with OneMoney, we are committed to creating an ecosystem where every Indian and business can confidently take control of their data, fostering a more equitable and empowered digital future for India.”
Speaking about the investment, Apoorve Goyal, Managing Director, India Investments, Prosus, said, “Equal is at the forefront of revolutionizing identity verification and financial data sharing in India. With its strategic investment in OneMoney AA, Equal is leveraging India’s unique digital public infrastructure to build a secure and scalable platform that addresses the urgent need for frictionless and consent-driven data sharing in today’s digital landscape. We believe in Keshav’s vision to drive financial inclusion through innovative technology, and are excited to support Equal’s growth as it continues to lead this transformation.”
Founded by Keshav Reddy and Rajeev Ranjan, Equal helps businesses streamline KYC, fraud prevention, and regulatory compliance through seamless integration with over 50 ID databases and 4,000+ API providers.
It recently invested in OneMoney, an account aggregator, founded by Krishna Prasad. This strategic investment enables Equal to enhance its offerings by combining secure, consent-driven financial data sharing with its core identity verification services. OneMoney and Equal jointly enable over 64 million monthly transactions and service 250+ clients nationally, achieving an industry-highest 97% success rate in KYC processing.
