Business accounting platform Vyapar has acquired Suvit, an AI-driven accounting automation startup, to strengthen its digital compliance offerings for small and medium businesses in India.
Following the acquisition, Suvit founder Ankit Virani will join Vyapar as a business head and oversee the integration of Suvit’s automation tools into Vyapar’s platform. The companies did not disclose the financial terms of the deal.
Vyapar was founded in 2016 by Ruqiya Irum and Shubham Agrawal in Bengaluru. The platform offers simple accounting and inventory management tools for small businesses.
It helps MSMEs with tasks like creating invoices, tracking inventory, managing accounts, and staying compliant with regulations. Vyapar competes with platforms such as Clear and SahiGST and says it supports more than 1 crore MSMEs across India.
The company raised $30 million in 2022 from WestBridge Capital, Indiamart, and India Quotient.
Sumit Agarwal, Founder and CEO of Vyapar, said, “This acquisition brings us closer to Vyapar’s long-standing vision — to empower every Indian business with simple, intelligent, and accessible technology. Together with Suvit, we are building a connected financial future for MSMEs and tax professionals alike. By joining forces with Suvit, we want to equip tax professionals to handle more clients and manage their compliances efficiently. Ensuring to significantly reduce their time and effort.”
Ankit Virani, Founder and CEO of Suvit, said, “Suvit was built to simplify compliance for tax professionals. Joining Vyapar allows us to extend this vision to millions of MSMEs, combining automation and accessibility to deliver an integrated digital experience.”
Suvit, founded in 2022 by Ankit Virani, offers AI-powered tools for pre-accounting, GST reconciliation, and advanced compliance. Its platform is used by chartered accountants and MSMEs, and it is recognised by the Institute of Chartered Accountants of India (ICAI). The company says it supports more than 10,000 firms and 30,000 accountants.
After the acquisition, both companies say they will work together to make accounting more efficient and provide stronger compliance features for MSMEs and tax professionals. The combined platform aims to increase the use of SaaS and AI in the accounting industry.
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