India’s Equal raises $10m Series A funding led by Prosus Ventures

By Gloria Methri

Indian data-sharing platform Equal 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 plans to use the funds to scale operations, forge strategic partnerships, and develop an integrated, secure, and transparent digital framework to enhance the data-sharing ecosystem in India.

The round included other top-tier investors such as 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 about the investment, Apoorve Goyal, Managing Director, India Investments, Prosus, said, “Equal is at the forefront of revolutionising 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 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 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.

On the fundraise, Keshav Reddy, Founder of 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.”