Supply chain finance startup CashFlo acquires compliance platform Logitax
The entire team of Logitax, including its leadership, will merge with CashFlo.
Supply chain finance startup has acquired GST and e-invoicing compliance platform Logitax.
With the integration of Logitax' compliance suite, CashFlo hopes to strengthen its product offerings to cater to a broader spectrum of mid and large corporate enterprises.
The entire team of Logitax, including its leadership, will merge with CashFlo, as per a statement by the Mumbai-based company.
"Logitax's mission to provide comprehensive GST compliance solutions resonates deeply with CashFlo's commitment to revolutionising B2B payments, and their expertise and offerings complement ours, making Logitax the ideal partner for us. We've been working with them as our partners for several months now and we felt joining forces formally will significantly strengthen our position in the industry,” said Ankur Bhageria, CEO and Founder of CashFlo.
Founded in 2018 by Bhageria and Dushyant Agarwal, CashFlo is an accounts payable automation and supply chain financing platform. It caters to 200,000 mid-market companies and small enterprises, including Souled Store, Zydus Group, Durian, Kalyani Group, etc.
Following the acquisition, the combined entity will serve over 1,200 enterprises and expand its SME network to over 300,000 companies, as per CashFlo's statement.
“We have fast-tracked our vision of solving complex problems around accounts payable, B2B payments, and embedded financing. With full-stack invoice automation, payments, compliance and lending solutions, we look forward to strengthening relationships with our customers and bringing more value to them," added Aditya Kulkarni, CEO of Logitax.
Edited by Kanishk Singh
