Clear raises $75 million funding in series C

Clear (née ClearTax), a fintech SaaS company, announced a $75 million Series C fund raise led by Kora Capital, alongside global fintech Stripe, Alua Capital, Think Investments and existing investors.

The funds will be used for Clear’s expansion into B2B credit and payments plus expansion into international markets.

Clear is widely known in India as the maker of ClearTax (digital tax platform for consumers). Indian businesses are rapidly digitizing with a strong tailwind from the Indian government’s push.

“We welcome Kora, Stripe and our other incoming investors. India is on a massive digitisation journey and we are fortunate to be in the perfect storm of electronic invoicing, GST, UPI, cheap mobile internet and rapid adoption of technology due to Covid-19,” Archit Gupta, founder and CEO, Clear, said.

This growth comes after the fully digital rollout of Goods and Service Taxes and mandatory e-invoicing. Clear recently acquired yBANQ, marking its expansion into B2B payments.

The company looks to use the latest funding for expansion in payments and credit and take its product suite to international markets where similar shifts are taking place.

“We are excited to partner with Clear as they innovate at scale in the Indian SaaS ecosystem, enabling Enterprises and SMEs to automate their workflows around taxation, invoicing and several other adjacencies,” Nitin Saigal, founder and CIO, Kora, said.