IndiaFilings.com, a compliance and regulatory service provider for businesses and individuals, has raised $4.3 million from BeeNext, Udtara Ventures and other angel investors.
In a press release, the bootstrapped company said the funding, raised as secondary, will be used to provide exit to the family members who had originally invested to grow the company into a successful and profitable venture with over 500 employees and one lakh paid customers.
Founded in 2014 by Lionel Charles, the Chennai and Mumbai-based IndiaFilings provides over 200 services for small businesses that help small businesses stay compliant and manage their regulatory requirements at a very affordable price point. It utilises homegrown technology to provide regulatory and accounting services at scale. Over 50,000 businesses have so far been started through IndiaFilings.com and the company has a revenue run rate of over ₹50 crore and is profitable.
“Our vision is to build IndiaFilings.com as an institution and a fintech platform for India. We are happy to partner with BeeNext and Udtara Ventures in our journey of building together. With this investment, we are looking to double our revenue, introduce newer products and grow our customer base further,” Lionel Charles, CEO and Founder, IndiaFilings, said in the statement.