An Indian Startup That Has Wooed Both Sequoia Capital And Founders Fund
In the startup world, if Sequoia Capital invests in a new venture, you’ll see aloft eyebrows everywhere. Imagine the acknowledgment back both Sequoia and the acclaimed Founders Fund acquisition a startup to advance in?
This advantageous startup is ClearTax who afresh captivated its pre-Series A allotment annular area it raised $2 actor (around Rs 13.3 crore) from PayPal co-founder Peter Thiel’s Founders Fund Angel and Sequoia Capital.
Owned by banking technology startup Defmacro Software, ClearTax is a start-up that helps individuals and businesses book their tax allotment online. With ClearTax, Founder’s Fund has fabricated their aboriginal advance in an Indian start-up through their babe aggregation Founders Fund Angel.
Founded in 2011 by Archit Gupta, ClearTax has been one of India’s aboriginal startups that helps bodies e-file I-T allotment by parsing the uploaded Form-16. Rising anytime back its inception, ClearTax is additionally the aboriginal India-focused startup to be adjourned by the Y-Combinator. It additionally aloft $1.3 actor in angel allotment from Silicon Valley-based angel investors, including PayPal co-founder Max Levchin, Whatsapp’s business arch Neeraj Arora, and AngelList architect Naval Ravikant, amid others.
The bristles year-old aggregation will use the gain from the annular to barrage a bulk of consumer-focused tax-saving products, including alternate funds and alternative equity-linked extenuative schemes. It will additionally be abacus to its administration team, said Archit Gupta.
"We accept taken the continued route, and now we are acutely aflame to accept some of the better anticipation leaders and investors on lath as our partners," Gupta said. "We are an instrument-agnostic belvedere that will acquiesce consumers to accept their amount of acknowledgment and baddest what to accept in their tax accumulation basket."
According to Gupta, ClearTax has over 1 actor consumers e-filing their tax returns, and the aggregation is targeting to accompany on lath 5 actor users by the end of the accepted fiscal, and recording affairs account $1 billion over the aforementioned period. In the appraisal year 2014-2015, ClearTax candy tax acknowledgment e-filings for 300,000 individuals.
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