Vyapar Acquire Suvit to Boost MSME Digital Compliance

Recently, business accounting startup Vyapar has announced the acquisition of Suvit. Suvit is an AI-driven accounting automation startup. This strategic deal aims to strengthen Vyapar’s digital compliance and workflow automation capabilities for India’s fast-growing MSME ecosystem. After the acquisition, Suvit’s founder Ankit Virani will join Vyapar as a business head and will lead the integration of Suvit’s automation tools into Vyapar’s platform, the companies said. 

Why did Vyapar Acquire Suvit? 

The acquisition of Suvit by Vyapar clearly points towards the objective of enhancing its automation stack and delivering smarter & faster integrated compliance solutions. With Suvit onboard, Vyapar is positioned to deliver three main objectives: 

1. Strengthen Automation Capabilities: Suvit is an artificial intelligence and software which can directly help Vyapar to enhance its automation capabilities and will reduce manual workload for users. 
2. Offerings to CAs & Tax Professionals: Team Suvit already mentioned that they have served thousands of practicing firms, this acquisition will help Vyapar to expand its offerings to CAs and Tax Professionals.  
3. Boost Digital Compliance for MSMEs: With help of Suvit AI automation platform, Vyapar can deliver faster, and integrated GST, Accounting, and audit processes. This will support the growing demand for digital compliance tools in India.

About Vyapar 

Vyapar is one of India’s leading business accounting software platforms catering to MSMEs through mobile and desktop applications. Founded in 2016 by Sumit Agarwal, Ruqiya Irum and Shubham Agrawal.

Vyapar helps small businesses to deal with invoicing, inventory, accounting needs, and much more. Their goal is to make a businessman’s daily routine less tiring and let them focus more on growing their business, less on paperwork. 

About Suvit 

Suvit is an AI and SaaS-based accounting automation platform designed for chartered accountants and tax professionals. It was launched in 2022 by Ankit Virani and Kalpesh Zalavadiya. 

Suvit’s automation suite simplifies workflows across taxation and accounting, bank reconciliation, audit processes and document & data entry automation. It claims to serve 10,000+ practicing firms and 30,000 accountants.

Impact on the Industry 

With AI rapidly transforming industries, this acquisition is expected to significantly influence India’s accounting and compliance landscape. MSMEs are considered as the backbone of the Indian Economy, yet they face hurdles in achieving a digital future. This acquisition will help MSMEs and professionals in following ways: 

• More efficient automation workflows
• Faster and more accurate compliance processes
• Reduced manual bookkeeping tasks
• Enhanced connectivity between businesses and tax professionals

Startup Movers’ Role in this Acquisition

Startup Movers has partnered with Vyapar since 2017, we guided them throughout the Acquisition Process and played a crucial advisory role. Our support was not only limited to this but also:

• Helped them in structuring whole Acquisition Transaction, Cap Table, Compliance, Taxation and Valuation Advisory
• Helped in providing advisory around agreements to be executed as part of the transaction and review of such agreements
• Handled Secretarial Documentation and filings for smooth closure of the acquisition

Seeing Suvit join forces with Vyapar is a proud moment for Team Startup Movers. Our involvement and guidance made the process smooth, efficient, and in full compliance with regulatory requirements. We/Startup Movers are always there to support any business from start to scale!