Equal, a platform specializing in data-sharing and identity verification, has successfully raised $10 million in its Series A funding round. The investment was led by Prosus Ventures, Tomales Bay Capital, and the company’s founder, Keshav Reddy, with a post-money valuation of $80 million. Other notable investors included Blume Ventures (Founders Fund), DST Global, Quona VC, Gruhas VC (Nikhil Kamath), Binny Bansal (Flipkart co-founder), Harsh Jain (Dream11 founder), Karan Adani (Adani Ports MD), D S Brar (Aragen Chairman), and Kunal Shah (CRED founder).
The fresh capital will be allocated towards scaling operations, forming key partnerships, and enhancing its digital infrastructure to ensure a secure, transparent, and integrated framework for identity verification.
Founded by Keshav Reddy and Rajeev Ranjan, Equal provides businesses with tools to streamline KYC processes, combat fraud, and comply with regulatory requirements. The platform integrates with over 50 ID databases and 4,000 API providers, making it a versatile tool for its clients.
Equal has also made a strategic investment in OneMoney, an account aggregator, further enhancing its suite of services. This collaboration enables the seamless, consent-driven sharing of financial data, bolstering Equal’s identity verification services. Together, they support more than 64 million monthly transactions and serve over 250 clients nationwide.
Equal faces competition from other key players in the industry, such as IDfy, SpringVerify, AuthBridge, Digio, and Perfios’ Karza.