STARTUPS
ClearTax increases $2 million from Sequoia, Peter Thiel fund

ClearTax, run by Defmacro Software Pvt. Ltd, had in April raised $1.3 million in angel funding from Silicon Valley-based angel investors, including PayPal co-founder Max Levchin, Whatsapp’s business head Neeraj Arora, and AngelList founder Naval Ravikant, among others.

ClearTax, run through Defmacro software program Pvt. Ltd, had in April raised $1.3 million in angel fundingfrom Silicon Valley-primarily based angel buyers, along with PayPal co-founder Max Levchin, Whatsapp’senterprise head Neeraj Arora, and AngelList founder Naval Ravikant, among others.
Bengaluru: ClearTax, a start-up that facilitates individuals and corporations record their tax returnsonline, has raised $2 million in a chain A round of funding from assignment capital firms Sequoia Capital India, and Paypal co-founder Peter Thiel’s Founders Fund Angel, a seed stage project firm.

The company, run via Defmacro software program Pvt. Ltd, had in April raised $1.3 million in angelfunding from Silicon Valley-based totally angel investors, which includes PayPal co-founder Max Levchin, Whatsapp’s commercial enterprise head Neeraj Arora, and AngelList founder Naval Ravikant, among others.

that is Founders Fund Angel’s first investment in an Indian start-up. It’s parent arm, Founders Fund, has invested in companies like data analytics start-up Palantir, bills employer Stripe and fitness wearable maker Misfit.

ClearTax offers a simplified way for clients to record their earnings tax returns on line. It additionallygives software for chartered accountants and small organizations to do the equal. With the new round ofinvestment, it is going to release a fourth product–one that allows individuals save on taxes with the aid of making investments.

The company, which presently employs ninety five people, plans to feature approximately two hundredmore in the subsequent six months. It claims 1 million users for its product for people, and about 10,000 chartered accountant firms.

we are hoping to grow the person base to about 50 lakh people by way of 2017. We want to fixhumans’s terrible dating with their cash because of the complexity worried in handling in it, via making the complete process simple,” stated Archit Gupta, leader govt officer, ClearTax.

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