Prosperr.io Raises $4 Million Seed Funding to Scale AI-Powered Tax Solutions
Bangalore FinTech SaaS startup Prosperr.io has been able to raise new funds to consolidate its market in the fast-changing space of tax technology in India. The most recent Prosperr.io financing round demonstrates the increased investor trust in AI-based tax compliance and optimisation solutions. Intelligent automation will help simplify the process as individuals and businesses struggle with increasingly complex tax regulations by Prosperr.io. The company has a solid revenue growth, retention, and product roadmap, which supports its expansion of AI opportunities, development of B2B operations, and adjacent financial services. This is a major milestone of Prosperr.io funding in terms of developing an integrated financial operating system of modern India.
Prosperr.io Secures $4 Million in Seed Round
Bengaluru-based FinTech SaaS firm, Prosperr.io has raised 4M in seed investment Seed: Jungle Ventures. Strategic investors and Yatra Angel Network as well as Sadev Ventures also participated in the Prosperr.io funding round. This most recent round of funding has taken total Prosperr.io financing to 5.55 million, as of 2022 since its establishment in 2022.
The investment is timely given that tax compliance and optimisation is increasingly becoming complex among salaried professionals and enterprises operating in various jurisdictions.
Strong Growth and Market Traction
Since its last capital raising, Prosperr.io has demonstrated rapid progress because of the efforts by its founders, Manas Gond and Dev Kumar. The company announced that their revenues have grown 5 times, 80 percent retention rate among individual consumers and astonishing 100 percent retention rate among enterprise customers. This performance contributed to the interest of the investor in the Prosperr.io funding process.
This traction indicates high product-market fit and proves the need of AI-based tax infrastructure in the FinTech industry of India.
How the New Funding Will Be Used
The newest Prosperr.io investment will be rolled out to speed up the product development, increase AI capabilities and fortify the company B2B sales platform. Prosperr.io also intends to move into related segments like wealth management building a wider financial services ecosystem on behalf of its customers.
It allows people and businesses to access end-to-end tax management tools, which allow automated compliance, deductions, reimbursements, and tax-saving plans based on AI-run workflows.
Leadership and Investor Perspective
According to CEO Manas Gond, Prosperr.io is being developed as an AI-based financial operating system to work in India. He has pointed out that the combination of these products such as the Flexi Benefit Plan and the Super Saver Plan is changing how businesses and individuals are handling tax, savings, and compliance. To him, it will be this Prosperr.io funding round that further accelerates the AI and product roadmap of the company towards millions of users.
According to Rishab Malik, who is a partner at Jungle Ventures, tax is also among the least innovated components of financial infrastructure. He further stated that the fact that Prosperr.io integrates AI into compliance and reimbursement processes directly makes it a category-defining tax infrastructure company.
