Monday, July 15, 2024

AI-Powered Fintech Platform Prosperr.io Raises $1.55M in Pre-Seed Funding

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Prosperr.io, an AI-driven fintech SaaS platform that automates income tax solutions, has successfully raised $1.55 million in its pre-seed funding round. The funding was led by Gokul Rajaram, who is a board member at Pinterest and Coinbase, along with other prominent angel investors.

The capital raised will be used to enhance Prosperr.io’s technology and expand its presence in the market. The pre-seed round included contributions from notable angel investors such as Vinodh Bhat, President and co-founder of JioSaavn; Ramakant Sharma, Founder of Livspace; Kunal Shah from QED Ventures; and Saurabh Jain, CEO of Livspace.

Prosperr.io plans to use the funds primarily to develop its AI-powered tax advisor. This tool aims to simplify income tax management for both individuals and businesses by reviewing transactions and invoices to ensure that all legitimate tax benefits are claimed. Additionally, the startup intends to improve its B2B product, upgrade its technological infrastructure, and strengthen its sales and marketing efforts.

The platform offers two main products: the Super Saver Product (B2C) and Prosperr-FBP (Flexi Benefits Plans, B2B). The Super Saver Product helps individuals manage and save on taxes efficiently, while Prosperr-FBP allows employers to offer non-taxable allowances to their employees. Both products are subscription-based, providing ongoing support and compliance for users.

Founded in March 2022 by Manas Gond and Dev Kumar, Prosperr.io has quickly made a mark in the fintech sector with its AI-driven tax solutions. The company currently serves 10,000 paid customers and aims to increase its annual recurring revenue to $2 million by the end of the year. With a team of fifty employees, Prosperr.io plans to significantly grow its workforce and customer base.

“Our goal is to provide end-to-end tax management with guaranteed maximum savings, enabled by cutting-edge technology and personalized industry expertise,” stated the founders.

Prosperr.io’s recent funding success and strategic development plans position it well to become a leading player in the fintech space, offering innovative solutions that streamline tax management and compliance for a broad range of users.

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