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HomeBusinessBefiler Raises $1.5 Million in Seed Funding

Befiler Raises $1.5 Million in Seed Funding

Befiler, Pakistan’s first online tax preparation, filing and services fintech startup, raises seed capital from International and local investors. Investors in the round include Lakson Venture Capital and US-based Cistech Capital, with participation from local investors.

The company is looking to expand its product and service offerings to customers. The startup will use the capital to develop and develop new product offerings.

The co-founder of Befiler, Mudassir Jokhio and Akbar Tejani, stated, “We are grateful for the seed funding from our investors. Despite economic challenges, Pakistan is undergoing a major digital transformation and formalisation of the economy. We are proud to be at the forefront of this positive and direly needed change. Befiler is Pakistan’s first fintech company in digital tax filing and advisory services. The company has experienced significant growth in the past two years. We have established ourselves as a reliable digital tax advisory solution by making tax services more accessible and affordable for the average taxpayer. Befiler’s app has more than 1 million downloads on Google Play Store, with 460,000 users and a rating of 4.5 stars out of 5. In the coming years, we plan to serve over 2 million individuals, SMEs, and corporates,”

Befiler aims to make filing tax returns more accessible and manageable with the Federal Board of Revenue (FBR). The service is for individuals who may need to gain proper knowledge and technical skills in tax return filing.

The fintech company collects basic information and provides assistance to help users file their returns accurately. Users can file returns at a lower cost without hiring a lawyer.

Befiler also aims to encourage those who still need to file tax returns due to some barriers in the FBRs system.

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