Hyderabad-based identity verification startup Equal raised $10 million in its first institutional funding round, led by Prosus Ventures, Tomales Bay Capital, and founder Keshav Reddy. This round is valued Equal at $80 million. Founded in 2022 by Reddy and Rajeev Ranjan, Equal’s platform streamlines KYC processes and combats fraud for 350 clients, including TVS Credit and Upstox. Additional investors include Blume Ventures, DST Global, and Flipkart’s Binny Bansal. The funds will support scaling, partnerships, and developing a data-sharing framework. Equal is also exploring expansion into consumer services and plans to deepen regulatory involvement through licenses and strategic investments.
