📺 Stream EntrepreneurTV for Free 📺

Fintech SaaS Company Clear Acquires CimplyFive With this acquisition, Clear's enterprise customers will have access to comprehensive compliance risk management software that eliminates many procedural non-compliance under the Companies Act, 2013

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Clear, a fintech SaaS company, announced that it has acquired CimplyFive, a cloud hosted application that automates company law and SEBI listing obligations compliance in all cash deal. With this acquisition, Clear's enterprise customers will have access to comprehensive compliance risk management software that eliminates many procedural non-compliance under the Companies Act, 2013.

"The acquisition will not just make our compliance suite larger but also stronger. We are committed to serve the CFO's office comprehensively," said Archit Gupta, founder and CEO, Clear.

This is Clear's second company acquisition in 2022, after it acquired Xedize, an invoice discounting platform in March. Clear has made 4 acquisitions so far, which include YBANQ in 2021 and Karvy's GST business in 2020 and it is trusted by more than 6 million Indians, 50,000 tax professionals, 1 million small businesses and 5000 large enterprises. Post the acquisition, CimplyFive will further Clear's CFO compliance suite to other areas, beyond direct and indirect tax, claimed by the company in a statement.

Founded in 2014 by Shankar Jaganathan and invested in by prominent ex-CFOs like Mohandas Pai, Suresh Senapaty, CimplyFive has scores of enterprise customers which include Fabindia, Premji Invest, Crompton, Tata-Hitachi, TVS Group, Jubilant Group and Wipro among others. The founder and the team of CimplyFive will function as an independent platform for now, as part of Clear, according to the company statement.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Thought Leaders

It's the End of the Entrepreneurial Era As We Know It

With the rise of advanced technologies and AI, are we losing all sense of the independent business person and entrepreneur?

Green Entrepreneur®

A Deer Invasion in Hawaii Has Turned Into an Environmental Crisis—And a Sustainable Business Opportunity

How Maui Nui Venison built a for-profit harvesting business that protects the land and helps the local community.

Business News

Spotify Removes a Key Feature From Its Free Music Listening Tier

The change is unofficial, so far, but social media users on Reddit and X have noticed a cap on using the lyrics feature.

Science & Technology

Exploring How Virtual Reality is Changing Startups

Virtual reality's immersive environment is where startup marketing is headed, and early adopters will be the ones who profit.

Growing a Business

'Marketing Happy Hour' Podcast Hosts Share the Best Way to Connect With Consumers: 'Think of Social Media Like a First Date'

Brand marketing experts and hosts of the Marketing Happy Hour podcast share tips on how to launch, grow, and make the most out of your small business's online presence.