Tax filing company Clear acquires B2B payments startup yBANQ

Tax filing and compliance company Clear (formerly Cleartax) has acquired fellow Bengaluru-based B2B payments startup yBANQ in a cash and equity deal. With this acquisition Clear, which is focused on software services for enterprises, will now enter the B2B payments and credit market. yBANQ's 10-member team across product and engineering will join Clear post the deal. yBANQ will connect Clear's customers with their business partners, vendors, customers, distributors and accountants on a single platform. Launched by Abhishek Ayyagari, Ganesh Mallya, and Ahamed Shah Wahidullah, two-year-old yBANQ is a fintech platform that helps businesses with simplifying collections, managing payouts, and reconciliation. Tax filing and compliance company Clear (formerly Cleartax) has acquired fellow Bengaluru-based B2B payments startup yBANQ in a cash and equity deal. With this acquisition Clear, which is focused on software services for enterprises, will now enter the B2B payments and credit market. yBANQ's 10-member team across product and engineering will join Clear post the deal. yBANQ will connect Clear's customers with their business partners, vendors, customers, distributors and accountants on a single platform. Launched by Abhishek Ayyagari, Ganesh Mallya, and Ahamed Shah Wahidullah, two-year-old yBANQ is a fintech platform that helps businesses with simplifying collections, managing payouts, and reconciliation.