Business accounting platform Vyapar acquires NeoDove

This is Vyapar's first acquisition with which it hopes to further strengthen and step up its efforts to cater to the SME sector

AgenciesUpdated: Wednesday, June 01, 2022, 03:09 PM IST
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The FMCG major in April had announced the acquisition of a 10.07 percent stake in Blupin Technologies Pvt Ltd, for up to Rs 39.34 crore. / Representative image | Photo credit: PTI

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 telecalling and sales engagement solution for small and medium-sized businesses. Through their unique CRM system, NeoDove provides their customers with features that are required to drive better results from their sales, marketing and customer engagement efforts.

"With Vyapar's support, we look forward to reaching even greater heights," said Arpit Khandelwal, Co-founder, NeoDove.

(With inputs from ANI)

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