Equal, a Hyderabad, Telangana, India-based provider of a data sharing platform, raised US$10M in Series A funding, at a post-money valuation of US$80M.
The round was led by Prosus Ventures, Tomales Bay Capital and its founder, Keshav Reddyith with participation from Blume Ventures, DST Global, Quona VC, Gruhas VC, Binny Bansal, Harsh Jain, Karan Adani, D S Brar, Kunal Shah, Kunal Bahl, Rohit Bansal, Mr. Parth Jindal, Ranu Vohra, Shashin Shah, Galina Chifina, Ravish Naresh, Ravi Kumar and Kavitha Subramanian.
The company intends 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.
Founded by Keshav Reddy and Rajeev Ranjan, Equal is a provider of a platform that helps businesses streamline KYC, fraud prevention, and regulatory compliance through 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.
FinSMEs
11/11/2024