CashFlo Set to Acquire LogiTax in Strategic Move to Enter Enterprise Sector

CashFlo, a finance automation and payments platform, is reportedly set to acquire LogiTax, a tax compliance management solution provider, according to sources familiar with the matter. The acquisition, aimed at bolstering CashFlo's entry into the enterprise business sector, signifies a significant expansion for the company. Founded in 2018, CashFlo specializes in providing short-term capital access for vendors and optimizing working capital flow for corporations. \r

Notably, CashFlo secured nearly $9 million in funding in September 2022, led by General Catalyst. LogiTax, established in Pune in 2017, offers end-to-end tax compliance management solutions, competing with players like Clear (formerly Cleartax) and Treflo. Following the acquisition, Aditya Kulkarni, the founder of LogiTax, is expected to lead CashFlo's enterprise business division. While financial details of the acquisition remain undisclosed, both companies reported substantial growth in operating revenue in FY23, with CashFlo's revenue reaching Rs 4.73 crore and LogiTax's at Rs 2.12 crore.