JJ Tax app sees surge in subscribers, gets commitment for funding

Chat-based tax app, JJ Tax, says it has seen strong demand for its services since its launch and is now on track to add one million subscribers and secure funding.

Many chartered accountant firms get repetitive emails and queries from clients. There are also existing firms who offer consultation and help for these services, but they are often quite expensive and are not within the range of affordability for many first timers. To make the process smoother and affordable, two aspiring CAs had developed a mobile application as a one-stop solution to all tax related queries and services in real time. Mahek Malik and Leesha Arya, who are currently pursuing articleship training at JJ Associates Chartered Accountants in Gurugram, launched JJ Tax app last year with a focus to simplify taxation for millennials.

The duo started with the target of reaching 10,000 subscribers by the end of FY21, but was able to reach the milestone within the third month of launch. The team revised their fiscal target several times, as they kept attaining their goal sooner than anticipated. Today, the team is chasing a target of 1 million subscribers, out of which 50% is already achieved, by January 2021.

“A simple, but effective idea of simplifying taxation and tax-related queries has now become one of the most popular and successful start-ups in India. With PE Funding of Rs 1000 million, JJ Tax is all set for its first Corporate Meet, in February-end,” says Malik in a statement.

The duo is looking to tap into a customer base of 40 crore PAN card holders, 6 crore income tax returns and 1.5 crore GST registrations, all of which will require a multitude of services such as GST quarter and annual filing assistance, TDS, Advance Tax and appeal related services.

Malik says the app is now available on Amazon and is gearing up to add an offline query resolution as an added feature. “With a user-friendly UI, JJ Tax is resolving more than 3000 queries per month and enabling millennials to switch to a digital and easier solution for all their tax queries,” says Arya.

The company has also expanded their leadership team by appointing CA Rashi Bajpai as Chief Operating Officer.

At the same time the company is also gearing up for the launch of an app for students, named JoJo – a one-stop solution for education of Commerce, Accounts, Tax and related subjects, with quiz and chat options. “This user-friendly and affordable app has already received a commitment of PE funding of Rs 1000 million even before its launch,” says Arya.

Bhavya Mittal, Chief Designer and Director of JJ Tax App, has been appointed as the Chief Operating Officer of JoJo Edtech, and she would be spearheading the launch in the first week of April 2021. The company plans to enrol 1 million subscribers by March 2022. Both companies are extensively expanding, and plan to take head count of their 30 member team to 200, by the end of 2021. The team is using digital transformation as an important lever, in reaching their targets and servicing India’s millennial audiences with an omni-channel approach.

JJ Tax app sees surge in subscribers, gets commitment for funding JJ Tax app sees surge in subscribers, gets commitment for funding Reviewed by TechCO on 2/04/2021 Rating: 5

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