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(Left) Dev Kumar, CPTO & Co-Founder, (Right) Manas Gond, CEO & Co-Founder
Prosperr.io, an AI-powered fintech SaaS platform focused on automating income tax solutions, has raised $1.55 million in a pre-seed funding round.
The funding round was led by Gokul Rajaram, a board member at Pinterest and Coinbase, alongside other notable angel investors.
The startup aims to use the capital raised to advance its technological capabilities and expand its market presence.
Participation from angel investors
The pre-seed round saw participation from prominent 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).
Purpose of fundraising
The startup will use the raised capital primarily to develop Prosperr.io's AI-powered tax advisor, which aims to streamline the income tax management process for individuals and businesses.
It plans to enhance its B2B product, improve its technological infrastructure, and bolster its sales and marketing capabilities. According to the founders, the AI engine is designed to review transactions and invoices to ensure legitimate tax benefits are claimed.
What does Prosperr.io do?
Prosperr.io offers a subscription-based service designed to manage income taxes comprehensively for salaried individuals, thereby ensuring maximum eligible tax savings and compliance.
The startup has two main products: the Super Saver Product (B2C) and the Prosperr-FBP (Flexi Benefits Plans, B2B). The Super Saver Product helps individuals manage and save on taxes efficiently, while the Prosperr-FBP enables employers to provide non-taxable allowances to their employees.
The startup claims that it currently serves 10,000 paid customers and aims to increase its annual recurring revenue to $2 million by the end of the year.
Who are the founders?
Founded in March 2022 by Manas Gond and Dev Kumar, Prosperr.io has quickly established itself in the fintech sector with a strong focus on AI-driven tax solutions. The company employs fifty people and plans to significantly grow its team 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.