ReachAccountant.com secures funding from Rajan Anandan & Rehan Yar Khan

Chennai-based online accounting software firm ReachAccountant.com
has secured first round of funding from angel investors Rajan Anandan and Rehan
Yar Khan. The funds raised will be utilised to expand ReachAccountant’s
operations. ReachAccountant was incubated by The Morpheus Venture Partners.

Chennai-based online accounting software firm ReachAccountant.com
has secured first round of funding from angel investors Rajan Anandan and Rehan
Yar Khan. The funds raised will be utilised to expand ReachAccountant’s
operations. ReachAccountant was incubated by The Morpheus Venture Partners.

Rajan Anandan who will join the board of ReachAccountant.com,
said: “It is imperative for every business to have a great accounting system.
But more often than not, SMBs cannot find a one stop solution for their
accounting needs. Reach Accountant has stepped in to fill this void with its
unique cloud based solutions. We are very excited about the growth trajectory
of the business and look forward to working with Robin to build a very
innovative cloud company.”

To use ReachAccount.com, customers can buy the application alone
for Rs 1,000 per month. Besides, they can hire the services of a back-up
accountant along with the application for Rs 2,000 per month. The accountant
helps in categorising transactions and filing VAT, Service Tax and TDS Returns.
Consumers can further hire the services of a CA with the accountant and the
application at Rs 3,000 per month. The CA finishes the tax and statutory audits
and helps in filing annual returns with the income tax and registrar of
companies.

According to the company, over 1000 SMB’s in
Chennai and Bangalore currently use ReachAccountant.com to prepare their
accounts automatically. Robin Moses, Founder and CEO of ReachAccountant.com, said,
“Accounting and Taxes is stressful and complex for a small business owner.
ReachAccountant.com makes this easy by providing incredibly easy accounting
software, supported by Expert Accountants and C.A’s all under one roof for a
flat annual fee. Currently, over 1000 businesses use our path-breaking
accounting software and we crunch over 5000 transactions every day. We have
grown phenomenally over the last two years and we are happy to have Rajan and
Rehan investing  in our company. We
intend to use these funds to expand our operations.”