4 rising startups in India – May 26, 2016

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Fintech and entertainment are a match made in heaven today on our rising startups list. An income tax return filing startup and an investment firm also brought in hefty funding rounds. Meanwhile, a gaming app that rewards its users with chances to meet celebrities and a Yik Yak-type app both scored investments. Take a gander at these four startups.

ClearTax

ClearTax, a Bangalore-based fintech startup that helps customers file their income tax returns, has raised pre-series A funding of US$2 million from Founders Fund Angel and Sequoia Capital. Among Founder’s Fund’s general partners is Paypal co-founder Peter Thiel. ClearTax is the firm’s first investment into India.

Founded by Archit Gupta and his father Raja Ram Gupta in 2011, ClearTax’s mobile and online portals provide an efficient alternative to the Indian government’s website. To better target its millennial audience, it has added tax-saving features into the mix.

mChamp

Delhi-based game app mChamp has bagged US$750,000 in seed funding from mobile app tech company MoMagic Technologies.

Founded by Paresh Shah, mChamp brings the star factor into mobile gaming. As you play, you collect passes, increasing your chances for the prize: a meet and greet with a celebrity. It has awarded 50 meet and greets in the nine months since its launch, and also offers cash prizes, free recharges, and coupons redeemable for other prizes.

Goalwise

Online investment firm Goalwise has secured US$1 million from undisclosed high net income individuals in India.

Founded by Savitri Bobde and IIT Kanpur alumni Swapnil Bhaskar and Ankur Choudhary, Goalwise tailors investment strategies for customers according to their personal profile and goals.

“Goalwise does not charge users for advisory and investment services. We earn brokerage from mutual fund companies on the investments made with them. This is usually in the range of 0.5 to 1.00 percent per annum for equity mutual funds and 0.1 to 0.5 percent for debt mutual funds,” said Swapnil in a statement.

If individuals get sidetracked from their goals, such as retirement or buying a house, Goalwise will offer suggestions on how to get back on track.

Roast

Mobile entertainment app Roast raised an undisclosed amount of funding from the Indian Angel Network (IAN). Sanjay Mehta, who led the round, will join Roast’s board.