Clear (ClearTax)
👤 Archit Gupta (Ex-Silicon Valley engineer (Data Domain) who built ClearTax on his chartered-accountant father's tax practice. YC-backed.)🌐 site
India's 2017 GST overhaul made digital filing the law. Clear turned that legal duty into recurring compliance rails.
Will it work? · our read
Mandate-made rails. A legal mandate guarantees demand, not margin: the govt's own free portal and Tally sit right beside you. Clear wins on ease and IRP status, yet still burns cash.
01How the money moves
Govt mandates GST returns + e-invoicing
→
Firms plug Clear into their ERP to file
→
Recurring SaaS subs + per-invoice fees
02The numbers
about $25M
FY24 rev, +93% YoY
MCA filing
91.5%
from SaaS subs
MCA filing
Rs 5cr
e-invoice mandate floor
GSTN
Filings prove the mandate creates demand; the yearly loss proves a forced market still gets price-squeezed. Entrackr FY24
FY25 (latest): Rs 272 cr, about $32M, up 30%; net loss still Rs 96 cr.
🔒
The facts are free. The judgment is for members.
You've seen how the money moves, the numbers, and every source — free, on all 365 cases, always. Members get the part you can't look up: why it won · where the moat really is · how it dies · how it beats its rivals — plus the 🚀 launchpad prompt that turns any case into a plan for your business.
Sources stay public, always · cancel anytime · 14-day refund
(demo: preview the full teardown)Sourcesupdated · daily
Entrackr — Clear FY24 revenue Rs 209.84 cr (+93%), loss cutEntrackr — Clear FY25 revenue Rs 272 cr, Rs 96 cr lossForbes India — Archit Gupta, ClearTax founder profileClearTax — e-invoicing mandatory above Rs 5 cr turnoverClear — official site
Revenue is from Clear/Defmacro Software's statutory MCA filings reported by Entrackr (FY24 Rs 209.84 cr, about $25M, +93%; FY25 Rs 272 cr, about $32M), not a company press release, so it is FILED and audited-filing lagged. Clear is VC-funded (about $140M raised from Sequoia/Peak XV, Founders Fund, Y Combinator) and still loss-making (Rs 96 cr net loss), so this is not a bootstrapped case. The figure is revenue from operations (91.5% software subscription and support), not GMV or filing volume. The 2017 GST pivot, 30-to-300 team scaling, and GSTN-IRP status are documented; the counter-move read is tagged as our inference. We never score you.