Stripe backs $75m round of Indian tax filing, invoicing startup

India’s Clear, a fintech software-as-a-service firm previously known as ClearTax, said it banked US$75 million in its latest round of funding.

More funding details

• Lead investor: Kora Capital
• Other investors: Stripe, Alua Capital, Think Investments, and existing investors
• Stage: Series C

More company updates

• Clear said it has seen a 5x growth in its user base the last 18 months, having added more than 3,000 large enterprise customers. It says it now processes over 10% of India’s business invoices, which have a gross merchandize value of US$400 billion.
• It plans to use the fresh funds to expand into business-to-business credit and payments and enter international markets.
• The company aims to have over 10,000 large enterprises and 10 million small businesses using its services over the next couple of years.
• Clear provides solutions for income tax filing, invoicing, and compliance for goods and services tax, among other services. In 2018, Clear raised US$50 million in a series B round led by Composite Capital, which marked the Hong Kong-based VC’s first foray into India.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.