PayPal Co-Founder Max Levchin Makes His First Indian Investment; Backs Fintech Startup ClearTax

Fintech startup ClearTax which facilitates users to file taxes and returns online has raised $1.3 Mn (INR 8.6 Cr) in seed funding from a group of prominent Silicon Valley investors including PayPal co-founder Max Levchin and Scott Banister, an early investor in Facebook and Uber. The Bangalore-based company will use the proceeds for new product launches, expanding the size of its team, and to further build its mobile strategy.

Archit Gupta, CEO of ClearTax, “We are in the process of launching new products, catering to our SME and enterprise clientele, which will focus on invoicing and payroll. Our mobile app will be out next month as well.”