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India’s ClearTax raises $12M to expand into new financial services

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Gary Johnson
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ClearTax, which helps Indians file their tax returns online with minimum stress, is on a roll this year.

ClearTax CEO and founder Archit Gupta told TechCrunch that three announcements over such a short period wasn t the company s plan but that is how the funding materialized.

Gupta said that was down to the chemistry he found in SAIF s Ravi Adusumalli.

The money is likely to last some time and it will be used to help grow the ClearTax userbase and expand its reach into new financial products.

First is a tax return service for businesses, which is focused around the Indian government move to evolve the country s outdated and inconsistent VAT regulations to a more standardized GST system.

Half of the new staff will be product engineers, Gupta explain, and the company is looking both inside India and to the U.S. — particularly Indian expats in Silicon Valley — to fill its vacancies.

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