Global product and engineering leaders including Aparna Chennapragada, CPO of Robinhood; Surojit Chatterjee, Coinbase CPO; Balaji Srinivasan, ex-CTO of Coinbase; have made an investment in the fintech SaaS company Clear (formerly known as ClearTax). The investment has been made by individual investors in their personal capacity and the company did not disclose the investment amount. Clear recently raised a $75 million Series C round led by Kora Capital, Stripe, Alua Capital, Think Investments, and existing investors. The investment was aimed at accelerating Clear’s expansion into B2B credit and payments plus expansion into international markets.
“The investment comes as a significant endorsement for Clear and the transformation the company has undergone over the last year to expand into international markets. Their appreciation for what it takes to build a product with a global vision in markets which are dominated by legacy firms comes from their own experience of building fintechs for the world,” said Archit Gupta, CEO, Clear. With the Series C round, Clear had raised a total of $140 million in equity capital since its inception. Some of its investors include Y Combinator, Composite Capital, Elevation Capital, Sequoia Capital, and Founders Fund. In 2021, Clear expanded its operations in Saudi Arabia with the launch of e-invoicing solutions and now plans to enter other parts of the Middle East and Europe soon.
Started as a digital tax platform for consumers, Clear now has over six million individual users, more than 50,000 tax professionals, a million small businesses, and 3,300 large enterprises as its clients. The company envisions building the largest global B2B Business Network that connects Clear’s customers with their business partners - vendors, customers, distributors, accountants - on a single platform.