Funds will be used to launch a lot of tax-saving products focusing the consumers such as mutual Funds, equity linked saving schemes.
“A typical agent is very bias. To solve for this, our products will be data driven, and completely transparent, to the extent that we will publish our commissions on the site itself.”
Adusumalli said, “We are very excited to partner with Archit and team as they translate their market leadership in tax filing space to become one of the largest fintech platforms in India.”
This move of entering in online investment advisory segment, leads it to stand among startups like Inventus Capital and Faering Capital backed- FundsIndia, and World Bank’s investment arm IFC stake holding- Aditya Birla Group’s MyUniverse.
ClearTax was among the first domestic startups to participate in the prestigious Silicon Valley-based startup accelerator Y Combinator’s programme in 2014 and counts PayPal Cofounder Max Levchin, WhatsApp early member Neeraj Arora and Dropbox VP Ruchi Sanghvi among its investors.
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