Compliance tech platform Vakilsearch on Thursday announced that it has raised $10 million in Series B funding from InCorp India. The round also saw the exit of existing investor Kalaari Capital, which invested $2 million in the start-up in 2015. In 2020, Vakilsearch raised an undisclosed sum from Udaan Co-founder Sujeet Kumar.
A tech-enabled compliance solutions provider, Vakilsearch’s offerings include incorporation, government registrations, corporate and tax filings, trademark filings, accounting, payroll and other support services to businesses.
Fund deployment
The funding, in the form of primary infusion, will be used by Vakilsearch to accelerate its tech and product development and spruce-up marketing, sales and talent acquisition.
Since its inception in 2011, Vakilsearch has catered to over 80,000 small businesses among other clients, including over 30,000 businesses since the start of the pandemic, enabling over 10,000 new incorporations and over 8,000 trademark filings.
“Our clients can expect a disruptively brilliant experience in the years ahead, where we leverage InCorp India’s deep domain knowledge and combine it with Vakilsearch’s cutting edge technology solutions and platform,” said Hrishikesh Datar, Founder, Vakilsearch in a press release announcing the fundraising.
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