Quicko Infosft, which offers online taxation services, has now secured $0.3 million in seed capital funding from Rainmatter Capital, which is an incubator that invests in financial technology startups.
Rainmatter Capital, sponsored by online brokerage Zerodha, in the month of September, invested around $0.6 million in Finception, which publishes digital content on finance-related development for Millenials. In the month of July, it invested around $1 million in commodities procurement platform Procol, along with early-stage venture capital firm Blume Ventures.
“Traders are generally confused about their tax calculations. Taxes on trading can get tricky sometimes as the rules vary depending on asset class such as real estate, equity, derivative, turnover limits, and applicability of tax audit,” Nithin Kamath, Founder and CEO of Zerodha said in a statement.
“We want to encourage more people to file their tax return by simplifying the tax filing process. Our mission is to simplify taxes for everyone and we have built our platform for Individuals & businesses across India keeping this in mind. We are very excited to partner with Zerodha to simplify tax filing for traders,” he added.