Prosperr.io, an AI-driven fintech SaaS company, has recently secured $1.55 million in a pre-seed funding round. The funding was spearheaded by angel investor and board member of Pinterest and Coinbase, Gokul Rajaram, and saw participation from notable investors such as Vinodh Bhat, Ramakant Sharma, Kunal Shah, and Saurabh Jain. Since its inception in 2022, Prosperr.io has been offering subscription-based services tailored to manage income taxes for salaried individuals. The company’s two primary products, the Super Saver Product for tax planning and saving, and Prosperr-FBP for employers to provide tax-free allowances, have quickly gained traction.
The recently acquired funding aims to push the envelope further by enhancing Prosperr.io’s AI-first tax advisor. The ambitious target is to amass five million paid users and achieve an annual revenue of $100 million by 2028. In its pursuit of growth, Prosperr.io plans to launch a financial advisory product and expand the AI capabilities of Prosperr-FBP, aiming for a broader international impact. This push for innovation comes at a time when the number of income tax returns filed in India has surged by 9% year-over-year as of December 31, 2023. With competitors like Clear, JJ Tax, and Quicko in the fray, Prosperr.io’s unique AI-driven approach sets it apart in the increasingly crowded market of cloud-based and app-based tax management platforms.
The Growing Demand for AI in Tax Solutions
Prosperr.io, an AI-driven fintech SaaS firm, recently raised $1.55 million in pre-seed funding. Led by angel investor and Pinterest and Coinbase board member Gokul Rajaram, the round also saw participation from investors like Vinodh Bhat, Ramakant Sharma, Kunal Shah, and Saurabh Jain. Founded in 2022, Prosperr.io offers subscription-based services targeting income tax management for salaried individuals. Its key products, the Super Saver Product for tax planning and Prosperr-FBP for employers to offer tax-free allowances, have gained significant traction.
The new funding is set to advance Prosperr.io’s AI-first tax advisory ambitions with a goal of acquiring five million paid users and achieving $100 million in annual revenue by 2028. The company plans to launch a financial advisory product and expand the AI capabilities of Prosperr-FBP to bolster its global reach. This comes amid a 9% year-over-year increase in income tax returns filed in India as of December 31, 2023. Competing with platforms like Clear, JJ Tax, and Quicko, Prosperr.io’s unique AI approach distinguishes it in the growing realm of cloud-based and app-based tax management solutions.
