Tax management startup Prosperr.io has raised $4 million (Rs 35.8 crore) in a seed funding round led by Jungle Ventures at a post-money valuation of approximately $15.6 million (Rs 140 crore), cofounder and chief executive Manas Gond said.
In addition, Yatra Angel Network and Sadev Ventures participated in the round, which brings the Bengaluru-based company’s total funding to $5.55 million since its incorporation in 2022.
Founded by Manas Gond and Dev Kumar, Prosperr.io operates in the tax management and compliance segment and delivers technology-driven solutions for both salaried individuals and enterprises. On the consumer front, the startup offers subscription-based tax planning and compliance services that help users optimise deductions and manage multiple income streams efficiently.
At the same time, on the enterprise side, Prosperr.io collaborates with organisations to provide tax-saving employee allowance structures and automated reimbursement solutions. Recently, the company expanded its enterprise product suite by launching an AI-powered reimbursement platform to address rising complexity in corporate tax operations.
According to Gond, the company will deploy the fresh capital to accelerate product development and strengthen its business-to-business (B2B) sales capabilities, as it aims to scale its enterprise platform and expand into adjacent segments such as wealth management.
“We are trying to ensure that whatever financial requirements a salaried individual has—whether taxation or wealth planning—Prosperr is the subscription-based platform to address their day-to-day needs,” Gond said.
Furthermore, Gond stated that the company plans to leverage enterprise partnerships to drive customer acquisition for its consumer-facing business.
Earlier, in June 2024, Prosperr.io raised $1.5 million in a funding round led by Silicon Valley–based angel investor Gokul Rajaram, who has previously backed companies such as Faire, Figma, and Airtable.
Currently, the company employs around 150 people and reports an 80% retention rate among individual users, while it maintains complete retention across its enterprise client base.
Additionally, Gond revealed that the company has secured an asset management company (AMC) licence and has registered as a SEBI investment adviser. At present, Prosperr.io offers mutual fund products and plans to expand into equity and bond investments. Notably, about 25% of its consumer users actively use its wealth management offerings, Gond said.
“Tax is one of the most under-innovated layers of financial infrastructure, and the complexity only compounds as individuals earn across multiple streams and businesses operate global workflows,” said Rishab Malik, partner, seed investments, Jungle Ventures.
