ClearTax has raised $2 million in series A round from venture capital firms Sequoia Capital India, and Paypal co-founder Peter Thiel’s Founders Fund Angel.
The Bangalore based startup had recently raised its seed round of $1.3 million from a clutch of investors. PayPal Co-founder Max Levchin along with Scott & Cyan Banister, WhatsApp’s Business Head Neeraj Arora, AngelList Founder & CEO Naval Ravikant, Dropbox VP Ruchi Sanghvi, Y Combinator alum Sumon Sadhu and Flexport’s Founder & CEO Ryan Petersen, led the round.
The fresh funds will help the company to launch a new product that will help ClearTax users to save tax by making investments. It also plans to expand its team which currently comprises of 95 members and add about 200 more in the next six months.