Prosperr.io Secures $1.55 Million in Pre-Seed Funding, Led by Silicon Valley Investor Gokul Rajaram

The capital raised will be used primarily to develop the company’s AI-first tax advisor.

Updated on: 17 June 2024 11:24 am

Prosperr.io, a fintech SaaS platform for automating income tax, has announced the closing of its $1.55 million pre-seed funding round. The round was led by Gokul Rajaram, a board member at Pinterest and Coinbase and a prominent investor known for backing exceptional companies like Faire, Figma, and Airtable.

The round also saw participation from notable angel investors, including Vinodh Bhat (President and Co-Founder of JioSaavn), Ramakant Sharma (Founder of Livspace), Kunal Shah (QED Ventures), and Saurabh Jain (CEO of Livspace), among several others.

Read: Palette Brands Raises $2 Million in Pre-Series A Funding Round

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Founded in March 2022, Prosperr.io offers a subscription-based service designed to manage income taxes comprehensively for salaried individuals, thereby ensuring maximum eligible tax savings and compliance. By combining advanced tech products with personalized industry expertise, the company aims to create a digitally intelligent solution for personal finance, benefiting millions worldwide. The capital raised will be used primarily to develop the company’s AI-first tax advisor.

"The growing complexity of income tax regulations and the increasing number of individuals filing income tax returns (ITR) highlight the need for user-friendly, technology-driven solutions. Our mission is to address this challenge by developing AI-powered solutions that redefine income tax management and help our customers save money while achieving their financial goals,” said Manas Gond, CEO and co-founder of Prosperr.io.

Prosperr.io offers two core products: the Super Saver Product (B2C product), which helps individuals plan and save their taxes efficiently, and the Prosperr-FBP (Flexi Benefits Plans), which enables employers (B2B product) to provide non-taxable allowances. The company leverages a powerful AI engine to examine invoices and transactions, ensuring the lawful claim of tax benefits.

On the funding, Dev Kumar, CPTO and Co-Founder of Prosperr.io, said, “Our next step is to launch a financial advisory product for B2C users and enhance our AI-agents of the Prosperr-FBP product, amplifying the global impact. We also target to reach 5 million paid users and USD 100 million in annual revenue by 2028.”