Clear, a Bangalore-based fintech SaaS platform simplifying the financial lives of the Indians, has raised US$ 75 million in a Series C funding round led by Kora on 24 October 2021.
Investors: The latest investment round featured Kora as the lead investor with participation from Think Investments, Alua Capital and Stripe. The startup has managed to raise, in total, US$ 140 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the funding round towards diversifying into B2B payment and credit domain while expanding its international operations.
About Clear
Brought to existence in 2011 by Srivatsan Chari, Archit Gupta and Ankit Solanki, Clear (formerly known as ClearTax) builds software for taxes, invoices, credit and payments and enables businesses, accountants, supply chains to save time and money. Its product suite allows the companies to stay linked with shared visibility of organised invoice data, tax behaviour and payment flow. The firm has achieved over five times growth in the past one and a half years and increased its user-base by attracting 3,000 large businesses and over one million small enterprises. Clear envisages catering to more than 10 million small enterprises and 10,000 large companies in the coming years. It seeks to set up its operations in Western Europe and the Middle East before expanding to Southeast Asia and Latin America.
What the Founder has to say: “Digitisation is gaining pace in the Indian market. We are well-positioned with the emergence of GST, UPI, affordable mobile internet, electronic invoicing, and faster technology adoption stimulated by Covid-19. The infusion of new capital will enable us to expand internationally and bolster our commitment to building a SaaS platform that assists enterprises with payments and collateral-free debt. We are grateful to our new investors for showing faith in our business model. We are exhilarated to gain wisdom from Stripe that develops economic infrastructure for the internet. Additionally, Kora has great expertise in technology enterprises in growing markets.”- Archit Gupta, Founder and CEO at Clear.
What the Investor has to say: “It is exciting to join hands with Clear as they create innovative offerings for the Indian market, allowing SMEs and enterprises to digitise their workflows related to invoicing, taxation, and other similar functions. We are confident about Clear’s growth journey in the domestic and international market.”- Nitin Saigal, Founder and CIO of Kora.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Article
