# Defmacro Software Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/defmacro-software-private

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.cleartax.in
- Total disclosed funding: $14M
- Latest round: Series A (Jun 17, 2016)
- Investors on record: 3

## About

Defmacro Software Private Limited specializes in tax compliance and financial management software for individuals and businesses in India, streamlining processes such as e-filing and invoicing.Founded in 2011 in Bangalore, India, Defmacro Software Private Limited is known for its tax compliance solutions. It was co-founded by Archit Gupta, Ankit Solanki, and Srivatsan Chari. The company has successfully raised USD 75.00 mn in its Series C funding round, led by Kora Management, contributing to a total funding of USD 75.00 mn and a current valuation of USD 700.00 mn.Defmacro Software Private Limited, through its brand ClearTax, provides a range of products designed to simplify taxation and compliance. Their offerings include e-filing solutions for Income Tax Returns (ITR), GST compliance software, and tools for e-invoicing and TDS filing. ClearTax's ITR filing software allows users to efficiently file tax returns in under three minutes, while their GST software aids in the filing of G1-G9 returns. The company serves over 1.5 million individual taxpayers, 20,000 chartered accountants, and 10,000 businesses across various sectors in India.In 2023, Defmacro Software Private Limited reported revenue of USD 13.20 mn and an EBITDA of USD -28.67 mn. The company generates revenue through subscription-based pricing models, partnerships, and service fees for its financial solutions, providing users and businesses with necessary tools for tax filing and compliance.Defmacro Software Private Limited aims to launch new products designed to enhance the user experience and broaden its service offerings. The company is targeting expansion into additional geographic markets in India by the end of 2024. Recent funding from the Series C round will be strategically utilized to support these growth initiatives, particularly in enhancing product features and accessing new customer segments. It is also noteworthy that Founders Fund has exited its stake in the company, though financial terms were not disclosed.

## Funding rounds

- Series A, Jun 17, 2016, $12M — Elevation Capital
- Seed, May 25, 2016, $2M — Hong Shan, Founders Fund

## Investors

- Hong Shan — Seed
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed
- Elevation Capital — Series A