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ClearTax raises $50 mn after two years of dry spell

Oct 23, 2018 by The Passage Team
ClearTax raises $50 mn after two years of dry spell

ClearTax, an online tax return-filing and investment platform, has closed a fresh USD 50-million financing round led by Composite Capital, more than two years since its last fundraise.

For Hong Kong-based Composite Capital, ClearTax is its maiden bet in India and comes at a time when the financial tech sector, commonly referred to as fintech, has clocked rapid growth and managed to attract aggressive funding.

The two-year-old fund typically invests in early- to mid-stage companies across consumer goods, retail, transportation and technology in Asia and was founded by a former partner at one of the leading Chinese investment firms — Hillhouse Capital.

Source: The Economic Times

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