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Vyapar Acquires AI Accounting Firm Suvit
1 Dec
Summary
- Vyapar acquired AI automation accounting software Suvit.
- The deal aims to create a unified digital ecosystem for MSMEs.
- Ankit Virani joins Vyapar as business head post-acquisition.
Business management platform provider Vyapar announced its acquisition of Suvit, an AI-enabled automation accounting software. This acquisition is set to forge a unified digital ecosystem designed to support micro, small, and medium-sized enterprises (MSMEs), chartered accountants (CAs), and tax professionals with an integrated suite for business management, automation, and compliance.
The integration will merge Vyapar's business management tools with Suvit's AI technology, significantly boosting operational efficiency in tasks like invoicing and tax filing. Suvit, founded by Ankit Virani, was initially developed to minimize manual data entry and GST reconciliation.
Ankit Virani will now serve as Vyapar's business head, stating that the union will extend Suvit's vision of simplifying compliance to millions of MSMEs. Vyapar CEO Sumit Agarwal emphasized that the partnership moves the company closer to its goal of empowering Indian businesses with accessible technology and aims to equip tax professionals to manage clients more efficiently.
