The funding round was co-led by Prosus Ventures, Tomales Bay Capital, and founder Keshav Reddy
Founded in 2022, Equal is an identity verification aggregator which helps businesses streamline KYC and helps prevent frauds
The startup plans to use the capital to scale operations, form strategic partnerships, and develop an integrated digital framework for enhancing India’s data-sharing ecosystem
Identity verification platform Equal has raised $10 Mn in its Series A funding round co-led by Prosus Ventures, Tomales Bay Capital, and founder Keshav Reddy, at a post-money valuation of $80 Mn.
The round also saw participation from Blume Ventures, DST Global, Gruhas, Quona VC, Flipkart cofounder Binny Bansal, Dream11 founder Harsh Jain, CRED founder Kunal Shah, Adani Ports MD Karan Adani, among others.
The Hyderabad-based startup said it plans to use the capital to scale operations, form strategic partnerships, and develop an integrated digital framework for enhancing India’s data-sharing ecosystem.
Founded in 2022 by Reddy and Rajeev Ranjan, Equal is an identity verification aggregator which helps businesses streamline KYC. It helps in fraud prevention and regulatory compliance through integration with over 50 ID databases and 4,000 API providers.Â
The platform claims to enable over 64 Mn monthly transactions and service 250+ clients nationally, with a 97% success rate in KYC processing.
In August, Equal invested an undisclosed amount in account aggregator platform OneMoney to enhance its offerings by combining secure, consent-driven financial data sharing with core identity verification services.
(The story will be updated soon.)
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