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The New Delhi-based provider of software that enables Indians to file their income tax returns raised the amount from Sequoia and Peter Thiel's FF Angel (the angel investing arm of Founders Fund).
The seed round is ClearTax's second this year, following a $1.3m seed round in April from investors including Max Levchin.
The five year-old company will use the proceeds from the round to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. It will also be adding to its leadership team, said Archit Gupta , chief executive of ClearTax. "We have taken the long route, and now we are extremely excited to have some of the biggest thought leaders and investors on board as our partners," Gupta said. "We are an instrument-agnostic platform that will allow consumers to choose their rate of return and select what to have in their tax savings basket."
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