Prosperr.io: Leveraging AI to Simplify India's Tax System

Prosperr.io, a tech-enabled company based in India, is making waves in the financial technology space by providing AI-powered solutions to simplify India's complex tax system. The company, which recently secured $1.55 million in pre-seed funding, aims to capitalize on India's growing economy and increasing number of taxpayers.

• India's recent general election and strong economic growth have resulted in a significant increase in the number of taxpayers.
• Prosperr.io's AI-powered solutions help individuals and businesses navigate India's complex tax regulations and optimize their tax savings.

Targeting the Growing Taxpayer Base in India

Prosperr.io's primary target market is individual taxpayers in India who struggle to understand the country's intricate income tax system. The company's subscription products, developed with the guidance of professional accountants, provide users with digital tools to manage their tax affairs effectively.

• In 2023, India saw a 9% increase in the number of individuals filing tax returns, highlighting the growing need for user-friendly tax management solutions.
• Prosperr.io's services empower taxpayers to claim all applicable reliefs and exemptions, monitor their tax liabilities, and make informed financial decisions.

AI-Powered Tax Optimization Solutions

Prosperr.io offers two key products designed to address different segments of the Indian tax landscape: Super Saver and Flexi Benefits.

• Super Saver: This service caters to individual taxpayers and provides real-time tax calculations, personalized recommendations, and strategies to minimize tax liabilities.
• Flexi Benefits: This solution targets businesses with over 500 employees and ensures compliance with income tax regulations, helping employees maximize their take-home pay.

Utilizing AI to Enhance Tax Compliance and Personal Finance

Prosperr.io leverages AI to create a more engaging and efficient tax experience for its users, offering real-time calculations, personalized advice, and proactive nudges to ensure timely tax compliance. The company's AI engine continuously monitors India's tax codes and provides customized recommendations to optimize tax savings for individual users.

• Prosperr.io's AI-powered services aim to address the limitations of traditional tax solutions like hiring an accountant, which can be expensive, time-consuming, and prone to errors.
• The company's AI platform analyzes individual financial data and identifies potential tax deductions and exemptions, enabling users to make informed financial decisions and maximize their tax savings.

Growth Ambitions and International Expansion

Prosperr.io has achieved significant traction in the Indian market with over 7,000 users signed up for its Super Saver service. The company projects to generate $1 million in annual recurring revenue within the next month and aims to reach 5 million users and $100 million in annual revenue by 2028.

• Prosperr.io plans to expand internationally, starting with the US market, where it faces competition from established players like Intuit and Credit Karma.
• The company believes its ongoing product development and innovative AI-powered solutions will differentiate it in the competitive US market.

Securing Funding and Building a Global Platform

Prosperr.io's pre-seed funding round, led by Gokul Rajaram, a prominent angel investor and board member at Pinterest and Coinbase, is a testament to the company's potential. The funding will enable Prosperr.io to further develop its AI platform and expand its reach to a global audience.

• The company's vision is to build a comprehensive platform for personal finance management that revolutionizes how individuals and businesses manage their finances and optimize their tax savings.
• Prosperr.io's AI-driven solutions aim to make tax compliance a seamless and beneficial experience for users worldwide, empowering them to achieve their financial goals.