ClearTax India’s leading fintech SaaS company today unveiled ‘Clear’, an umbrella name under which all of its offerings across taxes, invoices, wealth management, and credit for businesses will reside. In its decade-long journey, the company has expanded from an e-filing tax platform to being a full-stack financial services provider.
With the ‘Clear’ identity, the company said it will continue to offer great products nurturing its legacy of accuracy, security, and reliability, complementing the ClearTax brand. ClearTax will continue its tax offerings (Income Tax and GST) which are loved by millions of Indians.
Launched in 2011, ClearTax began its journey as an online tax compliance platform by helping individual taxpayers with filing their income tax returns online. With the coming of GST, the company deepened its reach to its customers via several products that touch every aspect of a business. It launched dedicated offerings including ClearGST, ClearE-Invoicing, ClearOne for businesses, ClearPro for Tax Experts, and Black for individuals among others. Clear identifies itself as a tech and product first company having graduated from web-only cloud-based form factor to now web, desktop, mobile, and APIs. The latest addition to its portfolio is ClearOne – an easy-to-use, one-stop invoicing and compliance solution for SMEs. In the last 12 months, the firm has heavily focussed on ease of access for businesses and individuals via launching 4 mobile apps that simplify finances for Indians.
Today, Clear caters to over 2,000 of India’s biggest brands and corporations and more than 5 million individual taxpayers. It processes about 10% of India’s B2B invoices with over $300 billion in trade value every year and more than 10% of India’s overall income tax returns. Last year, the fintech firm saved over ₹1,000 crores for more than 4 lakh businesses. At the same time, it helps over 130 million Indians to demystify personal finances via its website every year and saves over 2 million man-hours via its compliance offerings.
Speaking at the announcement, Archit Gupta, Clear’s Founder and CEO, said “ We started the company to simplify taxes, over the years we have evolved beyond taxes and have grown tremendously. Today we make SaaS for taxes, invoices for connected businesses, and offer wealth management. Clear captures our huge ambitions to serve Indians in the areas of invoicing, wealth management, credit, and much more.”
As per estimates, Clear is expected to manage invoices worth over $1 trillion by 2023.