Clear (née ClearTax), India’s leading fintech SaaS company, raised $75 million in a Series C round led by Kora Capital, with global fintech Stripe, Alua Capital, Think Investments, and existing investors.
The funds will be used to accelerate Clear’s expansion into B2B credit and payments plus expansion into international markets.
Company: Defmacro Software Pvt. Ltd.
Round: Series C
Funding Month: October 2021
Lead Investors: Kora Capital
Additional Investors: global fintech Stripe, Alua Capital, and Think Investments
Company Website: https://cleartax.in/
Software Category: Digital tax platform for consumers
About the Company: Clear is widely known in India as the maker of ClearTax (a digital tax platform for consumers). Indian businesses are rapidly digitizing with a strong tailwind from the Indian government’s push. Accelerated by a fully digital rollout of Goods and Service Taxes and mandatory e-invoicing, Clear is India’s dominant SaaS provider in this space. Clear recently acquired yBANQ, marking its expansion into B2B payments. Clear’s SaaS platform has witnessed a phenomenal 5x growth in the last 18 months adding 3000+ large enterprise customers. It also saw a surge in usage with over 1 million small businesses on the platform. The Clear platform now processes over 10% of India’s business invoices with a GMV of $400 billion.