ClearTax is reportedly raising $100M at a $750-850M valuation.
But you have probably never heard of ClearTax.
What is ClearTax?
It’s a startup that takes care of the most boring part of your life – filing
your income tax returns and that too for free.
But why are investors interested in ClearTax?
The simple answer is opportunity.
When ClearTax was started in 2011, it was only catering to individuals.
While they had added a few paid services to generate some revenues, it wasn’t a
lot.
They knew they had to change something to make their business more sustainable.
And the opportunity presented itself in the form of GST in 2017.
As businesses were struggling to figure out GST returns – ClearTax decided to
make things easier for them by building a GST filing software.
And before they knew it, they were processing GST worth $200M – making them
India’s biggest GST filing platform.
Today, more than 85% of ClearTax’s revenue comes from their B2B business.
But now ClearTax is aiming to become a full-stack fintech company – they have
built their own mutual fund investment platform and are also leveraging the data
collected from businesses to offer them loans.
#startups #india #fintech #cleartax #business #entrepreneurship
Originally posted by Varun Guru on LinkedIn
link: linkedin.com/in/varun-guru
But you have probably never heard of ClearTax.
What is ClearTax?
It’s a startup that takes care of the most boring part of your life – filing
your income tax returns and that too for free.
But why are investors interested in ClearTax?
The simple answer is opportunity.
When ClearTax was started in 2011, it was only catering to individuals.
While they had added a few paid services to generate some revenues, it wasn’t a
lot.
They knew they had to change something to make their business more sustainable.
And the opportunity presented itself in the form of GST in 2017.
As businesses were struggling to figure out GST returns – ClearTax decided to
make things easier for them by building a GST filing software.
And before they knew it, they were processing GST worth $200M – making them
India’s biggest GST filing platform.
Today, more than 85% of ClearTax’s revenue comes from their B2B business.
But now ClearTax is aiming to become a full-stack fintech company – they have
built their own mutual fund investment platform and are also leveraging the data
collected from businesses to offer them loans.
#startups #india #fintech #cleartax #business #entrepreneurship
Originally posted by Varun Guru on LinkedIn
link: linkedin.com/in/varun-guru