Fintech start-up TaxBuddy.com has raised $1 million in early stage funding from UAE-based fund Zenith Global, it said in a statement.
The funds will be utilised for market outreach of products and deepen connection with users, it added.
Owned by Mumbai-based SSBA Innovations Pvt. Ltd, TaxBuddy.com is an online tax adviser offering subscription-based plans of tax advisory including income-tax and GST, tax saving and even ‘tax notice management services’.
“Perhaps, TaxBuddy is the first in India to automate tax planning and also notices management,” said Sujit Bangar, founder, TaxBuddy.com.
A former Indian Revenue Service (IRS) officer and Harvard Business School alumnus, Mr. Bangar said this funding will help the firm to lead in personal and small business financial space in India.
“Tax compliance and advisory services are distinct from other fintech services. The user needs to feel confident and trust that his compliance is in safe hands. Our people build that trust and the technology helps us reach out to customers and expand the user base,” said Mr. Bangar.