Data sharing platform Equal on Monday said it has raised $10 million in its Series-A round led by Prosus Ventures, Tomales Bay Capital and its founder, Keshav Reddy, at a post-money valuation of $80 million. The company said it would deploy fresh capital towards scaling operations, forging strategic partnerships, and developing a digital framework for improving the data-sharing ecosystem in India.
The new round also saw the participation of other investors including Blume Ventures (Founders Fund), DST Global Partners, 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).
Speaking on the investment, Apoorve Goyal, Managing Director, India Investments, Prosus, said the company 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,” said Goyal.
Founded by Keshav Reddy and Rajeev Ranjan, Equal helps businesses streamline KYC, fraud prevention, and regulatory compliance through integration with over 50 ID databases and over 4,000 API providers. It recently invested in account aggregator OneMoney, enabling Equal to enhance its offerings by combining consent-driven financial data sharing with its core identity verification services.
OneMoney and Equal jointly enable over 64 million monthly transactions and service over 250 clients nationally, achieving an industry-highest 97 per cent success rate in KYC processing, the company said in a statement.
“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,” said Keshav Reddy, Founder, Equal.