• About
  • Contact
Wednesday, May 18, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Clear Acquires yBANQ, a Fintech Startup

Abdul Kadir Khan by Abdul Kadir Khan
October 11, 2021
in News
Reading Time: 2 mins read
A A
0
IMG 20210708 WA0011

Clear, the taxation startup, has acquired yBANQ with a cash and equity deal. Though both the parties did not disclose the deal amount, it is expected to be in the range of $5 million. yBANQ is a new startup in the fintech sector that helps its clients in payment collection and automating business records.

Clear Buys yBANQ

Clear(formerly known as ClearTax) has entered B2B payment and credit operations by acquiring yBANQ. Clear is already a known name in the fintech sector due to its key finance operations including taxation, invoicing, wealth management, and other compliance.

yBANQ was founded in 2019 by Abhishek Ayyagari, Ganesh Mallya, and Ahamed Shah Wahidullah. The startup has 15 team members who are taking care of major operation and technical support activities in the firm. As per the signed agreement, the yBANQ team will join Clear once the deal is officially closed.

With the help of yBANQ infrastructure and its team, Clear plans to establish itself in the B2B fintech network further. It will start new processes including payment collections, online bookkeeping and others. It plans to connect all its customers with its business partners to provide all major fintech services on a single platform.

About Clear Operations

Clear has established itself as the key business firm for e-filling of GST and other financial operations. On its website, the startup claims that it is the largest e-filling fintech in India. The company also provides SaaS related operations to its clients.

Bangalore based clear started its operations as income tax filling platform for individuals. Later, it diversified the operations and included professionals and business firms as its clients.

When Indian government implemented GST, professionals were running here and there to find a finance firm to process it. Clear is the first Indian firm that prepared GST software including all terms and conditions. It made professionals life easy.

Currently, Clear has around 1000 staffs. Its GST software is used by 6 lakh companies, 60,000 tax professionals, and 1000 big organizations. The startup also provides training to its customers about different financial processes.

Clear claims that it processes 10% of the business invoices that is has around $300 billion worth. The taxation startup was founded in 2011. Up to now, it has raised around $65 million in equity.

Previous Post

Zomato is All Set to Start its IPO on July 14

Next Post

DealShare: Social Commerce to an Established E-commerce Platform Journey

Abdul Kadir Khan

Abdul Kadir Khan

Abdul Kadir Khan is a Content Writer at Next Big Brand. Hails from UP. Postgraduate in Computer Science. Content Maniac and Trainer. Love to write about startups, Brands, and Trending Tech.

Related Posts

Sameer Nigam PhonePe CEO
News

PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million

May 18, 2022
Smytten Founders
News

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
paytm mall
News

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
Zerodha Team
News

After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

May 16, 2022
Elon Musk Twitter
News

Elon Musk Puts On Hold $44 Billion Twitter Acquisition Deal

May 13, 2022
Dineout Founders
Food

Swiggy Acquires Times Internet Backed Dineout For $200 Million

May 13, 2022
Next Post
DealShare Founders

DealShare: Social Commerce to an Established E-commerce Platform Journey

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding Good Glamm Group google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million
  • D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures
  • Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

Latest News

Sameer Nigam PhonePe CEO

PhonePe To Acquire WealthDesk For Around $50 Million & OpenQ For Nearly $25 Million

May 18, 2022
Smytten Founders

D2C Sampling Startup Smytten Raises Rs 100 Crore in Pre-Series B Led By Fireside Ventures

May 17, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.