Prosperr.io Bags Pre-Seed Funding To Simplify Taxation With AI-Powered Solutions

Fintech SaaS startup Prosperr.io has raised INR 12.9 Cr (around $1.55 Mn) in a pre-seed funding round led by Pinterest and Coinbase board member Gokul Rajaram.

The round also saw participation from a host of angel investors, including JioSaavn’s cofounder Vinodh Bhat, Livspace founder Ramakant Sharma and CRED founder Kunal Shah among others.

The Bengaluru-based company plans to use the fresh funds to build its AI-first Tax Advisor and to build a tax optimisation platform for both Indian and overseas users. 

Founded by Manas Gond and Dev Kumar in 2022, Prosperr.io offers a subscription-based service designed to simplify the process of managing and paying taxes for individuals in India.

The company is also aiming for an annual revenue of $100 Mn in the next four years.

“The growing complexity of income tax regulations and the increasing number of individuals filing income tax returns (ITR) highlighted the need for a user-friendly  and technology-driven solution. Our mission is to address this challenge by developing AI-powered solutions that redefine income tax management and help our customers save money while achieving their financial goals,” said Gond.

Prosperr.io claims to offer two core products to its B2B customers, Super Saver Product and Prosperr-FBP Flexi Benefits Plans. While the former helps individuals plan and save their taxes efficiently, the latter enables employers to provide non-taxable allowances.

To be sure, taxpayers seeking advice on taxation and filing services are tapping the likes of fintech platforms, including Clear, JJ Tax, Quicko and ESARWA among others, for tax filing solutions.

The company also claims to leverage a powerful AI engine to examine invoices and transactions,  further ensuring lawful claim of tax benefits.