Taxbuddy.com, an online tax advisory company started by a former Indian Revenue Service officer Sujit Bangar, on Wednesday said it has raised USD 2.10 million (about Rs 16 crore) in funding led by UAE-based fund Zenith Global.
The company, launched in 2019 to offer subscription-based plans of tax advisory using automation technologies, will use the funding to enhance its technology capabilities, as per a statement. The online tax advisory company claims to have 4.5 lakh users on its platform. “Advisory automation is the next big thing in fintech. At TaxBuddy.com, we have been focused on the same since the beginning,” said Bangar, who is also an alumnus of the Harvard Business School.
Zenith is a repeat investor in the company and had first invested USD 1 million in 2020. Taxbuddy focuses on advisory automation and is well-positioned to lead the digital tax advisory space, the statement said. Bangar resigned from government service in 2017 while serving at the joint commissioner rank to take the entrepreneurial plunge.