We have 50 Million Reasons to Celebrate

Updated on: Jan 13th, 2022 - 7:07:38 AM

5 min read

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ClearTax raised $50 million dollars led by Composite Capital 

It’s time to celebrate! ClearTax just raised $50 million dollars led by Composite Capital, an investment management company based in Hong Kong. We are the first Indian company to have been funded by Composite Capital and we would like to thank them for showing confidence in us.

“We are excited to partner with the ClearTax team and support their continued growth. ClearTax continues to build exceptional solutions that simplify tax filings for both individuals and businesses in India.” – Kanush Chaudhary, Managing Director at Composite Capital

In the past, we have partnered with SAIF Partners, Sequoia Capital India, Paypal co-founder Peter Thiel’s Founders Fund Angel, WhatsApp’s business head Neeraj Arora; Scott Bannister and Cyan Bannister, AngelList founder Naval Ravikant and our first funding by Y Combinator. This helped us scale our products to new heights and develop a robust ecosystem that has been recognised as a front-runner in the Indian fintech market.

“ClearTax mission is to simplify taxes and finances for India and with this new investment, we have more firepower to focus on our mission, accelerate our growth trajectory, and continue to invest in technology and innovate our platforms to meet expanding customer needs.” – Archit Gupta, CEO and founder, ClearTax 

ClearTax plans to use the funds across three major domains

  • Business – Accelerate the growth trajectory of the platform by acquiring more businesses and consumers
  • Engineering – Upgrade our infrastructure and teams to deliver value additions in products and services
  • Sales and Marketing – Push for further sales and marketing of the platform

The immediate plans are to focus on consumers who are typically younger (millennials) and help them build on assets, tax saving and investing. The investment platform has been an exciting sector to venture into. We understood from our consumers that tax filing was a critical problem for them during the season, but the larger narrative through the year was tax saving. Hence, we thought of the investment platform as a natural foray and are extremely excited to see this through. Finally, we would like to thank all of you who have supported and trusted ClearTax and making us the front-runner in the Indian fintech market. With your help, we have been a beloved partner for everything tax and finance. So, for the bottom of our heart, we at ClearTax would like to say – Thank you. You rock!

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We are a fast growing company in the sector and are looking for talented like-minded individuals to join our mission in simplifying taxes for Indians. Reach us hrteam@cleartax.in

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Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

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