Befiler an online tax filing platform has raised a $1.5 million seed round the company announced in a statement. Investors in the round include US-based Cistech Capital, Pakistan’s Lakson Venture Capital (LVC), and local investors.
With a substantial portion going toward product development and developing new product offerings, the startup will use the funding to expand.
Befiler aims to make filing tax returns with the Federal Board of Revenue (FBR) more manageable and accessible for individuals who may not have the necessary knowledge or technical skills to do so on their own.
The startup collects basic information and provides in-house assistance to help users file their returns accurately, at a lower cost than hiring a lawyer to do it for them. Befiler also aims to encourage those who do not currently file tax returns due to these barriers to do so.
The startup was launched in 2019 by co-founders Akbar Tejani and Mudassir Jokhio, the platform has since gained over 20,000 active taxpayers, with 460,000 users utilizing its other services such as advisory and company incorporation in the US.