Prosperr.io, a leading fintech platform solving tax for individuals, has secured a $1.55 million pre-seed funding round. The round was led by Gokul Rajaram, a board member at Pinterest and Coinbase and prominent investor, known for backing exceptional companies like Faire, Figma, and Airtable. The round also saw participation from notable angel investors, including Vinodh Bhat (co-founder of JioSaavn), Ramakant Sharma (Founder of Livspace), Kunal Shah (QED Ventures), Saurabh Jain (CEO of Livspace), among several others.
Founded in March 2022, Prosperr.io offers a subscription-based product designed to manage income tax comprehensively for individuals, ensuring maximum eligible tax savings and compliance. By using deep-tech products powered by AI, the company aims to create a digitally intelligent solution, benefiting millions worldwide. The capital raised will be used primarily to launch the product in the US market.
"With the growing population of high tax-payers and the ever-changing complexity of income tax regulations, there's a need for user-friendly, technology-driven solutions. Our mission is to address this challenge by developing AI-powered solutions that redefine tax management and help our customers save money while achieving their financial goals. We've already seen significant traction in India market with employees of 1,500 companies using Prosperr.io," said Manas Gond, CEO and co-founder of Prosperr.io.
They have launched the “Super Saver” product for the India market. It's an AI powered tax management product. The “Super Saver” product tracks subscribers’ income and spending in order to provide a continually-updated snapshot of what they owe in tax, and to recommend strategies for reducing the liability while remaining compliant. An AI-driven engine sitting behind, scans tax codes and curates personalized recommendations for each user according to the reliefs their financial affairs may qualify them for.
They are planning to launch the Super saver for people in the U.S. market by 2024. They are raising more funds to evolve their AI solution to work across geography and laws. The Super Saver product has gained very good traction with 7,000 taxpayers signed up so far. Prosperr’s founders expect to secure annual recurring revenues of $1 million within the next month or so.
"I'm excited to support the Prosperr team on their mission to build the best tax optimisation platform for consumers not just for India but for the world. The world of taxes is complicated and confusing, and Prosperr's AI platform helps individuals and employees stay compliant while maximizing tax savings," said Rajaram.
International expansion is an important part of the strategy for achieving that goal, with Prosperr now planning a launch into the U.S. market, another country where income tax compliance is different. They are developing a smart AI engine to work on any tax-codes and jurisdictions, which supports their vision to go global in the coming future.
On the funding, Dev Kumar, CPTO and co-founder of Prosperr.io added, “We are building a constitutional AI agent to solve tax globally. Our product philosophy has always been to build products personalized for the users. We understand user’s financial data in depth to generate capability to develop AI solutions to simplify personal finance in future for the users across the globe. Our next step is launching in the U.S. market to amplify.”
About Prosperr.io
Prosperr.io, a new-generation fintech company, is an AI-driven platform that simplifies tax management for individuals. It was founded in March 2022 by Manas Gond and Dev Kumar with a vision to streamline personal finance and help customers achieve their financial goals. The company offers two core products: the Super Saver product, which helps individuals plan and save their taxes efficiently, and the Flexi Benefits product, which enables employers to provide non-taxable allowances. This helps people increase their take-home salary through their easy-to-use service for claiming non-taxable allowances. For more information, visit https://www.prosperr.io.
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