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CashFlo acquires Logitax to expand its Finance Automation & Compliance Suite

By Gloria Mathias

May 22, 2024

  • Acquisitions news
  • CashFlo
  • eInvoicing
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Cashflo, Logitax, Acquisitions news, Fintech acquisition News, Financial Compliance, Fintech solutions, Fintech India Solutions, Fintech News, Fintech Acquisition, CashFlo, India’s comprehensive finance automation and compliance platform, has announced its acquisition of Logitax, an all-in-one GST & eInvoicing compliance platform, for an undisclosed amount.

The integration of Logitax’s compliance suite bolsters CashFlo’s Accounts Payables automation, Payments & Reconciliations, and Invoice Discounting offerings, enabling it to cater to a broader spectrum of mid- and large corporate enterprises. Logitax’s entire team, including its leadership, will merge with CashFlo and continue to advance the future of financial automation.

With this acquisition, CashFlo expands its portfolio to offer a comprehensive full suite of finance automation products in the Accounts Payables and receivables management category. Among these offerings are AP automation, payments and reconciliation, GST filing and reconciliation, supply chain financing, ERP integrations, eInvoicing, and GST ITC maximization. Through these solutions, CashFlo empowers enterprises to realize substantial savings, amounting to up to 5% in EBITDA margin improvement annually.

Following this acquisition, the combined entity is poised to serve over 1200 enterprises and expand its SME network to over 300,000 companies. With over  1,80,000 crores of invoices flowing via the platform annually, this makes the combined entity a finance automation & supply chain finance company in India.

Ankur Bhageria, CEO-Founder of CashFlo, shared, “This deal marks a significant step forward in our mission to transform how businesses in India pay and get paid, thereby fueling the country’s growth. Logitax’s mission to provide comprehensive GST compliance solutions resonates deeply with CashFlo’s commitment to revolutionizing 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 would significantly strengthen our position in the industry.”

Aditya Kulkarni, Director of Logitax, said, “Joining forces with CashFlo is a fantastic opportunity for Logitax and our customers. 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.”

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