Bengaluru headquartered business accounting platform Vyapar has acquired SaaS startup NeoDove for an undisclosed amount. This is Vyapar's first acquisition with which it hopes to further strengthen and step up its efforts to cater to the SME sector.
"Building on our six years of success, the acquisition of NeoDove is our next big step to broaden the scope of problems that we solve for the MSMEs of India aligning to our larger goal of solving 360-degree problems of MSMEs," said Sumit Agarwal, founder & CEO at Vyapar.
Vyapar recently raised $30 Million in Series-B funding led by WestBridge Capital with participation from existing investors Indiamart&IndiaQuotient. Fortytwo.vc also participated in the round. Vyapar's mobile-first solution helps businesses generate bills and GST invoices, manage transactions, make smart decisions on inventory purchases, and provides access to accounting reports on the smartphone to owners. The app is available on the Google Play Store. NeoDove, founded in 2020 by Arpit Khandelwal and Ankit Kumar Agrawal, provides a unique telecalling and sales engagement solution for small and medium-sized businesses. Through their unique CRM system, provides their customers with features that are required to drive better results from their sales, marketing and customer engagement efforts. Both NeoDove and Vyapar are driven to make life easier for small and medium-sized businesses, and this acquisition comes on the back of meeting the growing demand for cutting-edge technologies for the less technologically-savvy SMEs. "It's incredibly inspiring to see how far we've come, as well as how our users have been able to scale and grow their businesses. Now with Vyapar's support, we look forward to reaching even greater heights." - Arpit Khandelwal, Co-founder, NeoDove.
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( With inputs from ANI )
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