SME NEO Banking Startup ZikZuk recently acquired Taxspanner, a tax e-filing platform. With this acquisition, Zikzuk plans to enhance its product offering by providing small businesses with a platform to file their taxes easily and guide them to make sound financial decisions. This integration will further help ZikZuk to expand its horizon in tax filing and create a scalable financial ecosystem.
Rahul Rasa, co-founder, and CEO of SME Neobank ZikZuk will soon join the board members of TaxSpanner and the company, on the other hand, will continue to work as it is.
Currently, Tax Spanner will operate as a separate subsidiary but will merge with ZikZuk in the coming future. Moreover, the company has a suite of products including tax advisory, tax filing, and insights on financial well-being, and is looking to spread its wings into indirect taxes with its products like GST filing and reconciliation.
Sudhir Kaushik, co-founder of TaxSpanner said that they are delighted and looking forward to this merger with SME NeoBank startup ZikZuk. This development will help them in fulfilling their mission of offering definitive solutions to SMEs and streamlining the service delivery process in personal taxation and finance space with minimum human interaction.
“SMEs have been the backbone of socio-economic development in India and this strategic acquisition of Taxspanner will further help us provide innovative solutions to small businesses in India. The products of Taxspanner are highly complementary to our current products like ‘Connected Banking’ and ‘Business Finance Manager’. We further plan to leverage the expertise of the company and its strong customer base of over one million users. ZikZuk will continue to innovate and build products for the SME segment thereby addressing the problems of cash flow, compliance, credit, and automation. This integration will help us accelerate our vision to create a sustainable and scalable financial ecosystem around MSMEs to help them grow their business and empower founders to make more data-driven decisions”, said Rahul Rasa, Co-founder of SME NEO Bank startup ZikZuk.