Cleartax
ClearTax (legal name Defmacro Software Private Limited) is an Indian financial technology company founded in 2011 as an online tax-filing service for Indian taxpayers. It later expanded into business-to-business software for tax compliance, electronic invoicing, and finance automation.
By 2026, ClearTax offered ClearTax AI, an AI-assisted platform for finance teams, and had been accredited or approved as an electronic invoicing service provider in multiple countries, including India, Saudi Arabia, the United Arab Emirates, Malaysia, Belgium, Oman, France, Germany, the Philippines, and Spain.
History
Archit Gupta, a former Silicon Valley engineer at Data Domain, founded the company with Srivatsan Chari and Ankit Solanki as Defmacro Software Private Limited.
ClearTax joined Y Combinator's Summer 2014 batch as the first India-focused startup funded by the accelerator. In April 2016, it raised $1.3 million in angel funding, including an investment by Max Levchin, his first investment in India. A $2 million seed round followed a month later, led by Sequoia Capital India and Founders Fund. In June 2016, ClearTax raised a $12 million Series A round led by SAIF Partners, later renamed Elevation Capital.
Following the introduction of India's Goods and Services Tax (GST) in July 2017, ClearTax launched software for GST compliance and return filing, expanding its operations into business-to-business services. In October 2018, it raised $50 million in a Series B round led by Hong Kong-based Composite Capital, bringing its total funding to $65 million.
In March 2020, ClearTax acquired the GST filing business of Karvy Data Management Services, onboarding around 200 enterprise customers. In July 2021, it acquired YBANQ, a business-to-business payments platform.
In October 2021, ClearTax raised $75 million in a Series C round led by Kora Capital and Stripe, valuing the company at more than $700 million. That month, the company entered the Middle East market with e-invoicing software compliant with the Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia.
In March 2022, Clear acquired Xpedize, a supply chain financing platform, and rebranded it as Clear Invoice Discounting. In July 2022, it acquired CimplyFive, a corporate-compliance platform.
By early 2023, ClearTax was expanding its operations in Saudi Arabia and planned to invest up to $20 million in the Gulf region over three years. In 2024, it launched operations in Malaysia as an MDEC-accredited Peppol provider approved by the Inland Revenue Board of Malaysia (LHDN) for the MyInvois mandate.
In July 2025, the company launched ClearTax AI, described as an AI-powered tax-filing assistant, and consolidated its businesses under the ClearTax name.
In April 2026, ClearTax was approved as an Accredited Service Provider under the United Arab Emirates' e-invoicing framework. It was also designated as an Approved Platform (Plateforme Agréée) for France's mandatory e-invoicing network by the General Directorate of Public Finances (DGFiP). In July 2026, its Omani entity, Defmacro Software SPC, was accredited by the Oman Tax Authority as an e-invoicing service provider under the Fawtara programme.
In 2025 and 2026, ClearTax expanded its e-invoicing operations in Europe. In Germany, it became a member of the Verband elektronische Rechnung (VeR) and was listed in the association's e-invoicing provider directory. In France, it was registered as a Plateforme Agréée by the French tax administration in April 2026. The company also operated e-invoicing services supporting the Belgian and Spanish mandates.
Products and services
For individual taxpayers, ClearTax provides online income tax return filing through web, mobile, and messaging applications. For businesses, ClearTax provides an AI suite of products for finance teams covering taxation, compliance, accounts payable, financial planning, and vendor management.
ClearTax also provides e-invoicing services and holds regulatory accreditations or approvals in several jurisdictions, including Saudi Arabia, the United Arab Emirates, India, Oman, Malaysia, Belgium, France, and the Philippines.
Corporate structure
ClearTax's parent legal entity, Defmacro Software Private Limited, is headquartered in Bengaluru, Karnataka.
Management
Archit Gupta has served as founder and chief executive since the company's inception in 2011. Co-founders Srivatsan Chari and Ankit Solanki remain part of the leadership team.
See also
- Goods and Services Tax (India)
- Electronic invoicing