back Back

ZikZuk acquires Tax e-filing platform, TaxSpanner.com

By Leandra Monteiro

November 10, 2022

  • Acquisition
  • Collaborations
  • Filing Tax Returns
Share

ZikZuk SME Neobank, ZikZuk Technologies, announced the acquisition of SPANACROSS IT Solutions, well known as TaxSpanner.com.

For ZikZuk which is a neobank, this strategic acquisition will help enhance its overall product offerings and help over 10,000 small businesses become more digitally compliant in phase one. ZikZuk’s current products like ‘Business Finance Manager’ integrates with MSMEs accounting software, and the banking ecosystem and use its proprietary analytics engine to empower MSMEs with insights on sales, cash flow, payables, receivables, etc. It also enables lenders to make data-driven decisions to provide their contextual credit to MSMEs. The integration of TaxSpanner.com will further enable ZikZuk’s SME customers to seamlessly manage tax filing besides managing banking, payments and automated accounting systems.

Rahul Rasa, Co-Founder & CEO, ZikZuk said, “SMEs have been the backbone of socio-economic development in India and this strategic acquisition of TaxSpanner will further help us provide innovative solutions to small businesses across India. The products of TaxSpanner are highly complementary to our current products of ‘Connected Banking’ and ‘Business Finance Manager’ and we further plan to leverage on the expertise of the company and its strong customer base of over one million users. ZikZuk will continue to innovate and build products for the SME segment thereby addressing the problems of Cash flow, Compliance, Credit and Automation. We also slowly plan to expand into the mid-market segment. This important acquisition will further help us accelerate our vision to create a sustainable & scalable financial ecosystem around MSMEs, help them grow their business and also enable founders make data-driven business decisions.”

With this acquisition, Rahul Rasa will join the Board of TaxSpanner.com and spearhead the company. The current Co-founders of TaxSpanner will continue as it is and so would the employees continue to be part of TaxSpanner. At present, TaxSpanner would operate as a separate Subsidiary and over a period of time maybe be merged with ZikZuk.

Speaking on the development, Sudhir Kaushik – Co-Founder & CEO, TaxSpanner.Com said, “We are delighted and look forward to joining hands with ZikZuk. The development will help us in fulfilling our mission of providing definitive solutions to SMEs and streamline the service delivery process in personal taxation and finance space with minimum human interface.”

Previous Article

November 10, 2022

JP Morgan and Mastercard launch ‘Pay-by-Bank’ service

Read More
Next Article

November 10, 2022

Euronet Worldwide and AeTrade bring cross-border payments to Africa

Read More








IBSi Daily News Analysis

March 22, 2024

Acquisition

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Payop partners with Tink to add Pay by Bank in Europe

Read More

March 22, 2024

FinTech Focus: Catch latest developments of the week

Read More

March 22, 2024

The Weekly Wrap: all you need to know by Friday COB | March 22nd

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023