Equal Identity

About Equal Identity

Equal Identity Private Limited operates as an identity verification aggregator in India, providing solutions for businesses to manage Know Your Customer (KYC) processes, prevent fraud, and ensure regulatory compliance. The company was founded in 2022 by Keshav Reddy, who comes from the GVK family which runs the GVK Group, and Rajeev Ranjan, the former director of engineering at Swiggy. This combination of business acumen and technological expertise underpins the firm's strategy.

The company is headquartered in Hyderabad, with a sales presence in Bengaluru and Mumbai, and employs a team of approximately 65 people. In November 2024, Equal secured $10 million in its first institutional fundraising round, led by Prosus Ventures and Tomales Bay Capital, achieving a valuation of $80 million. This funding round also saw participation from notable investors such as Blume Ventures, DST Global, Quona VC, and prominent figures including the co-founders of Zerodha, Flipkart, and Cred.

Equal's business model is centered on a per-transaction pricing structure, serving financial institutions, fintech companies, insurers, and other large enterprises that require verified data for their operations. The firm offers a platform that integrates with over 50 identity databases and more than 4,000 API providers, processing a high volume of monthly transactions for over 350 corporate clients, including names like TVS Credit, Larsen and Toubro, and Upstox. The company's product suite includes the KYC Aggregator and, through a strategic investment in OneMoney, an Account Aggregator service. These products are designed as API-first platforms that integrate directly into their clients' systems rather than as standalone consumer applications. The platform offers customizable digital ID verification workflows, personalized APIs, and solutions for consumer profiling and facial biometric verification. The company is developing three main technology stacks to cater to the banking and financial services, employment, and consumer tech sectors.