Group update

• Post-money valuation of Equal at $80 million
• Other participating investors include Blume, DST Global, Tomales Bay Capital, Keshav Reddy (Founder, Equal), Valiant Capital, Binny Bansal, Karan Adani, Kunal Shah, Kunal Bahl, Nikhil Kamath and Parth Jindal

Equal, one of India’s leading data sharing platforms, has raised US$10 million in its Series-A round led by Prosus Ventures, Tomales Bay Capital and its founder, Keshav Reddy, at a post-money valuation of US$ 80 million. 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.

The round included other top tier investors such as Blume Ventures (Founders Fund), DST Global, Quona VC, Gruhas VC (Mr. Nikhil Kamath), Mr. Binny Bansal (Co-founder, Flipkart), Mr. Harsh Jain (Founder, Dream11), Mr. Karan Adani (Managing Director, Adani Ports), Mr. D S Brar (Chairman, Aragen), Mr. Kunal Shah (Founder, CRED), Mr. Kunal Bahl (Co-founder, Titan Capital), Rohit Bansal (Co-founder, Titan Capital), Mr. Parth Jindal (Managing Director, JSW Cements), Ms. Ranu Vohra (Co-founder, Avendus Capital), Mr. Shashin Shah (CEO, Think Investments), Mr. Galina Chifina (Asia Head, RTP Global), Mr. Ravish Naresh (Founder, Khatabook), Mr. Ravi Kumar and Ms. Kavitha Subramanian (Co-founders, Upstox).

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 is a highly secure platform that 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, India’s first and largest Account Aggregator, founded by Mr. 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.

On the fundraise, 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.”

About Equal

Equal is a leading identity verification aggregator in India, empowering businesses to manage KYC, fraud prevention, onboarding, income validation, and regulatory compliance with ease. With access to 50+ ID databases and over 4,000 API providers, Equal offers robust, seamless solutions across industries. In partnership with OneMoney, India’s first and largest Account Aggregator, Equal enhances its platform with secure, consent-driven financial data sharing, giving users control over their personal data while enabling institutions to make faster, informed decisions. The company offers an integrated platform for businesses and institutions seeking a secure, compliant solution for identity verification and data exchange.

Equal was founded by Keshav Reddy and Rajeev Ranjan. Keshav, a former venture capitalist, led investments in over 30 high-growth technology companies, including five unicorns such as Cred, Upstox, Hive, Genies, and Chipper Cash. He holds an MBA from MIT and a Bachelor’s degree in Engineering from the University of Michigan-Ann Arbor. Rajeev Ranjan, Equal’s co-founder, brings over 15 years of technical leadership experience. Previously, he served as Director of Engineering at Swiggy, where he led revenue and growth initiatives, and spent nearly a decade at Amazon, advancing to Senior Tech Leader and Technical Advisor to the CTO of India Payments. Rajeev holds a Bachelor’s degree in Computer Science from BIT Mesra.