Move to strengthen the GST service offerings of the company
Pune, 30 April: Vayana Network, India’s largest third-party Short-term Trade Financing platform, today announced the product acquisition of SahiGST, a cloud-based application for GST return filing and compliance. The acquisition will help Vayana Network strengthen its portfolio offerings in the GST and E-Way Bill space. SahiGST is a widely used software by Chartered Accountants (CAs), Corporates and Small & Medium Enterprises (SMEs) in India.
SahiGST was founded by Dinesh Tejwani, Ankur Agarwal, Dhruv Patel, Tirthesh Ganatra & Keyur Shah in late 2016. SahiGST was the first ASP in India to enable submitting of GST returns to GSTN via APIs for its customers. Co-founder Tirthesh Ganatra joins Vayana post this acquisition.
Bringing SahiGST under the Vayana portfolio will enhance the service offerings for its customers while keeping the existing product’s features and licence the same. SahiGST will be held as a portfolio product of Vayana Network and existing clients will be serviced seamlessly with support from Vayana GSP.
Speaking on the acquisition, Ankur P Agarwal, Co-founder, SahiGST said, “It has been an incredible journey building SahiGST and serving the Indian business community. Joining hands with Vayana Network will take this work to new heights. I am confident that SahiGST and Vayana together present by far the best GST filing solution in the market today.”
“Vayana GSP takes pride in being one of the government approved GST Suvidha providers (GSP) in India. We partner with multiple ASPs to facilitate GST compliance for businesses. SahiGST’s business philosophy and vision were a perfect match for us. With this acquisition, we intend to get closer to our existing customers by providing an end-to-end solution related to GST and E-Way bill compliance as well as short-term trade financing”, remarked RN Iyer, Founder and CEO of Vayana Network.
The acquisition will provide linear business integration for Vayana Network by including SahiGST into it’s GST and E-Way bill compliance related offerings. Vayana GSP serves over 500 large corporates and FIs; and has an additional partner network of other ASPs with over 150,000 SMEs routing their API traffic through the company. Vayana GSP ensures uninterrupted access to GSTN through its highly available, scalable and secure GSP.
About Vayana Network
Vayana Network is an electronic network that connects Corporates and their Supply Chains to enable easy, digital access to cost effective Trade Financing of their Payables and Receivables. Our Network has till date enabled USD700+ million in financing, digitized 500k+ invoices and today covers 600+ pin codes in over 150 cities in India across 15 different industries, from Manufacturing to Ecommerce. Vayana GSP offers end-to-end services to Corporates and SMEs to meet their GST and E-way bill compliance needs and is one of the Govt. authorised GST Suvidha Providers (GSP) in the country. Vayana GSP serves over 500 large corporates and some of the largest financial institutions/banks, in addition to other third-party Application Service Providers (ASPs) that have over 150,000 SMEs routing their API traffic through us. Vayana GSP is one of the first GSPs to fully integrate with National Informatics Centre’s (NIC) production environment for E-Way Bill APIs enabling easy E-way Bill compliance. We are PCI DSS compliant and ISO 27001:2013 certified and are backed by institutional investors. We are the winners of the PYMNTS GOLD award globally for Credit Innovation given by PYMNTS.com 2015, USA; and were a finalist at RBI IDRBT “Payment System Innovation Contest 2016”.
SahiGST was founded by a group of entrepreneurs with immense experience in domains of Taxation and Technology. Amongst the founding team several key technology products have been introduced in the market over the last 15 years. This includes eTDSWizard (acquired by Thomson Reuters), Pricebaba.com (served over 100 million users till date) and Talster (a powerful ATS).
For more information contact:
Supriya Kumar | Vayana Network| email@example.com | +91 98901 00626
Debashree Chatterjee | Concept PR | Debashree.firstname.lastname@example.org | +91 98332 75977