Chennai-headquartered Vakilsearch, an online platform for legal, tax and compliance services, has raised an undisclosed sum from technology growth investor Sujeet Kumar, co-founder of Udaan. Prior to Udaan, Mr. Sujeet was president of operations at Flipkart. The start-up intends to use the funds raised for engineering, specifically in machine learning and AI (artificial intelligence).
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Hrishikesh Datar, CEO of Vakilsearch, told The Hindu that when it comes to business registration pan-India, his start-up has helped in incorporating 10% of all new private limited companies. He said, “Close to 70% of the companies we set up stay with us for ongoing GST, RoC and accounting support. We see COVID-19 as an opportunity, with businesses increasingly going online to stay compliant and seek professional help,” he added.
The start-up has earlier been funded by Kalaari Capital and investors including Rajiv Luthra, founder of Luthra and Luthra Partners, Delhi and Sanjay Kamlani, founder of Pangaea3 among others. “We have raised over $3 million of capital to date,” Mr. Datar said.
Vakilsearch helps businesses with registrations, incorporations, accounting, filing, annual compliance and legal documentation. The start-up also offers services including tax filings, property agreements and consumer rights protection.
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