The Series C cycle was led by Kora Capital and joined by Alua Capital, Think Investments and existing backers from Clear, headquartered in Bangalore. The startup, which offers a subscription to cloud-based tax filing software, plans to use the new capital to expand business-to-business payments and lending, as well as expand into international markets, it said on Sunday. in a press release.

Investors are increasingly flocking to the Indian digital financial services market, attracted by the accelerating growth of the sector. Clear’s platform has grown five times in the past 18 months and has added more than 3,000 large businesses and more than one million small businesses to its customer list, the company said.

The startup backed by Sequoia Capital and Y Combinator said it now processes more than a tenth of India’s commercial invoices. The startup, which also offers wealth management, tax reporting and electronic invoicing services, recently acquired yBANQ to expand into payments, an industry that counts Stripe as one of the biggest players.