Indian startup Clear raised $75 million from traders together with international fintech large Stripe Inc. to fund its enlargement into on-line funds and different new companies.
The Collection C spherical was led by Kora Capital and joined by Alua Capital, Suppose Investments and current backers of Bangalore-headquartered Clear. The startup, which gives cloud software program subscription for tax filings, plans to make use of the brand new capital to develop business-to-business funds and credit score in addition to develop in worldwide markets, it stated in an assertion on Sunday.
Buyers are more and more flocking to India’s digital monetary providers market, drawn by the business’s accelerating progress. Clear’s platform grew 5 instances previously 18 months and it has added 3,000-plus massive enterprises and greater than 1 million small enterprise to its roster of shoppers, the corporate stated.
The Sequoia Capital and Y Combinator-backed startup stated it now processes greater than a tenth of India’s enterprise invoices. The startup, which additionally gives wealth administration, providers tax submitting and digital invoicing providers, not too long ago acquired yBANQ to increase into funds — an business that counts Stripe as one of many largest gamers.
Supply: Live Mint