ClearTax acquires Dose FM to strengthen mobile tech capabilities

CHENNAI: Tax and investing platform ClearTax has acquired Bengaluru-based audio streaming platform Dose FM for an undisclosed amount to become a one-stop-shop for financial needs of individuals and micro, small and medium businesses.
ClearTax expects that the acquisition will strengthen its mobile capabilities and enable it to rapidly build accounting, analytics and governance products.
The key purpose of the acquisition, according to ClearTax, is to utilise the Dose FM team's potential to build mobile-focussed products for simplifying financial lives.
"Businesses in India have leapfrogged from desktop to mobile and ClearTax understands this shift. Business owners and individuals are increasingly adopting mobile products for day to day business and financial planning," the company said.
Founded in January 2018 by Abhishek Damodara, Rishabh Harit and Akhil Appana, Dose FM's tech enjoys significant adoption in tier 2 cities.
“With experience in building consumer products for the Indian market, we resonated with ClearTax’s mission of building mobile-first solutions that will impact crores of Indian business owners and help simplify their lives,'' Abhishek Damodara, CEO, and founder of Dose FM, said.