ClearTax, a Bengaluru, India-based tax filing platform, closed a $12m Series A funding.
The round was led by SAIF Partners.
The company intends to use the funds to build and launch new products, hire 100+ engineers and build its executive leadership team.
Started in 2011 by Archit Gupta, Raja Ram Gupta, Srivatsan Chari, and Ankit Solanki, ClearTax provides a website used by over 1 Million Indian taxpayers to file their Tax Returns by uploading their Form-16 PDF, and receive back their Tax Return prepared automatically by the company’s software.
Besides individuals, over 10,000 CA firms and thousands of businesses across India use the platform for Tax & TDS returns.
ClearTax is also backed by Y-Combinator, Max Levchin, Scott Bannister, Neeraj Arora, Ruchi Sanghvi, Naval Ravikant, Sequoia Capital, and Founders Fund.