Clear raises $75M in Series C funding
Clear announced that it raised $75 million in its Series C round of funding led by Kora Capital, Stripe, Alua Capital, and Think Investments, along with existing investors.
The fintech startup will utilise the capital raised to support its expansion into B2B credit and payment as well as scaling operations internationally.
“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. We are doubling down on our SaaS platform to help businesses with collateral free debt and payments. This funding also gives us fuel for our international expansion.” said Clear founder and CEO Archit Gupta.
The platform aims to support its user base of large enterprises, SMEs, and individuals. The product offerings involve a range of finance based facilities like invoicing, GST, range of managed services & credit, I-T, TDS and wealth management solutions.
Speaking about the investment Nitin Saigal, founder and CIO at Kora stated, “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. We look forward to Clear’s journey in the Indian and global markets.”
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