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ClearTax acquires Karvy's GST services biz
ClearTax, India’s leading fintech SaaS company, which offers GST compliance and tax and investment related products, has acquired GST software and services business of Karvy Data Management Services for an undisclosed amount.
Hyderabad: ClearTax, India's leading fintech SaaS company, which offers GST compliance and tax and investment related products, has acquired GST software and services business of Karvy Data Management Services for an undisclosed amount.
ClearTax on Monday announced that the latest acquisition will boost its GST clientele.
Archit Gupta, founder and CEO, ClearTax, said: "With this strategic acquisition, we will be able to quickly scale up our GST customer base.
The new enterprises will benefit from all of our GST solutions, including e-Invoicing and will be able to comply with the new regulatory regime smoothly."
With this acquisition, more than 200 enterprise customers of Karvy will move to ClearTax. It will also be hiring employees from the GST division of Karvy Data Management Services.
Karvy customers will be provided a smooth and seamless business continuity and transfer with new company. The acquisition will bolster ClearTax's strong GST enterprise customer base and cement its leadership in the industry.
ClearTax has more than 400 customers who are on SAP and it is working on integrating these customers with its e-Invoicing product. These customers will be using the entire suite of GST offerings from the company.
