ID verification startup Equal raises $10 Mn led by Prosus and others

Equal, a data-sharing and identity verification platform, 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 round also saw participation from 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), and Kunal Shah (Founder, CRED).

The proceeds will be used to ramp up operations, forge strategic partnerships, and develop an integrated, secure, and transparent digital framework.

Founded by Keshav Reddy and Rajeev Ranjan, Equal helps businesses streamline KYC, fraud prevention, and regulatory compliance through easy integration with over 50 ID databases and over 4,000 API providers. 

It recently invested in OneMoney, an account aggregator. This strategic investment enables Equal to enhance its offerings by combining secure, consent-driven financial data sharing with its core identity verification services. According to the company, OneMoney and Equal jointly enable over 64 million monthly transactions and service over 250 clients nationally.

It competes with IDfy, SpringVerify, AuthBridge, Digio and Perfios-owned Karza.