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ClearTax Acquires TOOTL - an App-based Personalization Engine

With this acquisition, Cleartax will use the technology to upgrade its content curation strategy

Photo Credit : ShutterStock,

In line with its major expansion plans, ClearTax, a tax, finance and business compliance company, has acquired Greeblu Enterprises, an app-based startup. TOOTL, an infotainment app, offers personalised content to its readers using predictive analysis modeling. ClearTax is set to use this technology and curate personalised tax, finance and compliance related content on its website.

Since inception in 2011, ClearTax has been rapidly branching out into multiple domains. ClearTax offers a wide portfolio of products and services such as a mutual fund investment portal, GST software, EWayBill generator, DSC utility and business compliance services, while maintaining market dominance in the tax filing arena.

The company has been on the lookout for innovative ways to improve user experience and acquiring TOOTL was one such effort. Launched by Arpit Mehta and Parijat Banerjee, TOOTL is a pocket-buddy that understands the reader’s preferences and accordingly personalised relevant content the user would want to explore further. In no time, the app garnered positive responses from users across the country.

On how this acquisition is beneficial to ClearTax, Archit Gupta, Founder and CEO, Cleartax said “This algorithm has been a great value add to our existing systems. In the tax and finance sphere, ClearTax is known for its exhaustive content. We will utilise the TOOTL technology to enhance customer engagement and provide tailored content based on income , financial goals, age and other parameters. This would help our customers make informed financial decisions, taking us a step closer to our mission of simplifying finance for Indians.”

Arpit Mehta, Co-founder of Greeblu echoed similar thoughts. “It is great to work with ClearTax team and see how they piece technology and finance together to provide creative solutions to customers. I am looking forward to this collaboration and see how it shapes up.”

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