About Clear
Clear is a company based in Bengaluru (India) founded in 2011 by Srivatsan Chari, Archit Gupta, Ankit Solanki, and Max Levchin. It operates as a SaaS (Software-as-a-Service), Subscription Services, and FinTech. Clear has raised $140.42 million across 9 funding rounds from investors including Paytm, Stripe and PayPal. The company has 728 employees as of April 05, 2024. Clear has completed 2 acquisitions, including CimplyFive and Xpedize. Clear offers products and services including GST Filing Solution, ITR Filing, E-Invoicing & E-Way Bill, and Invoice Discounting. Clear operates in a competitive market with competitors including Intuit, Visma, Xero, Wave and FreshBooks, among others.
- Headquarter Bengaluru, India
- Employees 728 as on 05 Apr, 2024
- Founders Srivatsan Chari, Archit Gupta, Ankit Solanki, Max Levchin
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Defmacro Software Pvt. Ltd.
- Jurisdiction New Delhi, Delhi, India
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Annual Revenue
$13.4 M (USD)84.63as on Mar 31, 2023
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Net Profit
$-27.97 M (USD)-4.47as on Mar 31, 2023
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EBITDA
$-27.02 M (USD)-2.25as on Mar 31, 2023
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Total Equity Funding
$140.42 M (USD)
in 9 rounds
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Latest Funding Round
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Investors
Paytm
& 15 more
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Employee Count
728
as on Apr 05, 2024
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Investments & Acquisitions
CimplyFive
& 1 more
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Products & Services of Clear
Clear offers a comprehensive portfolio of products and services, including GST Filing Solution, ITR Filing, E-Invoicing & E-Way Bill, and Invoice Discounting. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
GST filing is facilitated for compliance and efficiency.
Income tax returns are filed quickly and easily.
Bulk invoicing is supported within any ERP system.
Early vendor payments are enabled to maximize EBITDA.
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Leadership Team
13 people
Product Management Team
10 people
Sales and Marketing
10 people
Software Development Team
7 people
Senior Team
6 people
Finance and Accounting
4 people
Manager Team
3 people
Creative and Marketing Team
2 people
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Funding Insights of Clear
Clear has successfully raised a total of $140.42M across 9 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 9
- Last Round Last Round
- First Round First Round
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2022 | Amount | Angel Round - Clear | Valuation | Aparna Chennapragada , Surojit Chatterjee |
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| Oct, 2021 | Amount | Series C - Clear | Valuation | Kora | |
| Oct, 2018 | Amount | Series B - Clear | Valuation | Composite Capital Management |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Clear
Clear has secured backing from 16 investors, including angel, institutional, and venture fund investors. Prominent investors backing the company include Paytm, Stripe and PayPal. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment Firm
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Founded Year | Domain | Location | |
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Private equity firm focused on consumer goods, retail, transportation, and technology companies
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Founded Year | Domain | Location | |
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Elevation Capital is focused on early-stage tech investments in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Clear
Clear has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include CimplyFive and Xpedize. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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SaaS-based dynamic discounting software connects suppliers, buyers, and investors.
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2017 | ||||
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Cloud-based compliance solutions are provided for MCA requirements and governance.
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Clear
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Clear Comparisons
Competitors of Clear
Clear operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Intuit, Visma, Xero, Wave and FreshBooks, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Web-based accounting software is offered for business use.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Clear
Frequently Asked Questions about Clear
When was Clear founded?
Clear was founded in 2011 and raised its 1st funding round 3 years after it was founded.
Where is Clear located?
Clear is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Clear?
Archit Gupta is the current CEO of Clear. They have also founded this company.
Is Clear a funded company?
Clear is a funded company, having raised a total of $140.42M across 9 funding rounds to date. The company's 1st funding round was a Series B of $50M, raised on Jun 01, 2014.
How many employees does Clear have?
As of Apr 05, 2024, the latest employee count at Clear is 728.
What is the annual revenue of Clear?
Annual revenue of Clear is $13.4M as on Mar 31, 2023.
What does Clear do?
Taxation and financial solutions are offered by Clear to individuals, businesses, and chartered accountants across India. Services are provided in sectors like GST compliance, income tax filing, e-invoicing, and invoice discounting. A connected finance ecosystem is built to enable efficiency, profitability, and 100 compliance. Advanced automation tools are utilized to improve cash flow and working capital management. Support is extended to industries such as FMCG, manufacturing, logistics, automotive, and startups with tailored solutions.
What products or services does Clear offer?
Clear offers GST Filing Solution, ITR Filing, E-Invoicing & E-Way Bill, and Invoice Discounting.
How many acquisitions has Clear made?
Clear has made 2 acquisitions, including CimplyFive, and Xpedize.
Who are Clear's investors?
Clear has 16 investors. Key investors include Paytm, Stripe, PayPal, FundersClub, and Aparna Chennapragada.
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