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Clear Raises An Undisclosed Amount From Global Products And Others

Global product and engineering leaders including Aparna Chennapragada, CPO of Robinhood, Surojit Chatterjee, CPO of Coinbase, Balaji Srinivasan, ex-CTO, Coinbase have made an investment in the fintech SaaS company Clear (née ClearTax). The investment has been made by individual investors in their personal capacity. 

“The investment comes as a significant endorsement for Clear and the transformation the company has undergone over the last year to expand into international markets. Their appreciation for what it takes to build a product with a global vision in markets which are dominated by legacy firms comes from their own experience of building fintechs for the world,” said Archit Gupta, CEO, Clear.  

Last year Clear expanded its operations in Saudi Arabia with the launch of e-invoicing solutions and plans to enter other parts of the Middle East and Europe soon. Clear is home grown fintech SaaS leader for Indian businesses and has its eyes set on compliance products for the international segment. 

“I am excited to invest in and partner with the Clear team in its journey to expand its offerings globally,” said Surojit Chatterjee.

Clear recently raised a $75 million Series C round led by Kora Capital, Stripe, Alua Capital, Think Investments, and existing investors. The investment was aimed at accelerating Clear’s expansion into B2B credit and payments plus expansion into international markets. 

Clear started off as a digital tax platform for consumers. After the fully digital rollout of Goods and Service Taxes and mandatory e-invoicing, the company also became a dominant SaaS provider in this space. Today, it has over six million individual users, more than 50,000 tax professionals, a million small businesses and 3,300 large Enterprises as its clients.

The company envisions building the largest global B2B Business Network that connects Clear’s customers with their business partners – vendors, customers, distributors, accountants – on a single platform. 

Source: Business World

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