Vyapar Acquires Accounting Automation Startup Suvit

Business accounting startup Vyapar has bought Suvit, an AI-based accounting automation company, to improve its digital compliance services for small and medium businesses in India.

After the acquisition, Suvit’s founder Ankit Virani will join Vyapar as a business head and will lead the integration of Suvit’s automation tools into Vyapar’s platform, the companies said. The financial details of the deal were not shared.

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Founded in 2016 by Ruqiya Irum and Shubham Agrawal, the Bengaluru-based Vyapar provides accounting and inventory management tools for small businesses.

The startup helps MSMEs with invoicing, inventory tracking, accounting, and compliance. It competes with platforms like Clear and SahiGST in the fintech space and says it serves more than 1 crore MSMEs.

Vyapar last raised $30 million from WestBridge Capital, indiamart, and India Quotient in 2022.

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.”

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Suvit, founded in 2022 by Ankit Virani, provides AI-based pre-accounting, GST reconciliation, and advanced compliance tools for chartered accountants and MSMEs. The platform is recognised by the Institute of Chartered Accountants of India (ICAI). According to its website, it serves over 10,000 firms and 30,000 accountants.

The companies said that after the acquisition, the combined entity will improve efficiency and offer stronger compliance features for MSMEs and tax professionals, helping boost the use of SaaS and AI.

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