MakeMyTrip to Acquire Happay Expense Management Platform from CRED
MakeMyTrip has signed a Business Transfer Agreement to acquire Happay Expense Management Platform from CRED, strengthening its position in corporate travel and expense management solutions. Happay's expertise includes over 900 corporate clients and robust capabilities in product development and data-driven insights. The transaction is expected to close within 90 days, with Happay's team integrating into MakeMyTrip while continuing to support existing clients. MakeMyTrip currently serves over 59,000 corporate clients via MyBiz and 450 large corporates through Quest2Travel. Happay's payments business will remain with CRED.
MakeMyTrip ha firmato un Accordo di Trasferimento Aziendale per acquisire la Happay Expense Management Platform da CRED, rafforzando la sua posizione nelle soluzioni di viaggio d'affari e gestione delle spese. L'esperienza di Happay include oltre 900 clienti aziendali e solide capacità nello sviluppo di prodotti e analisi basate sui dati. Si prevede che la transazione si concluda entro 90 giorni, con il team di Happay che si integrerà in MakeMyTrip continuando a supportare i clienti esistenti. MakeMyTrip attualmente serve oltre 59.000 clienti aziendali tramite MyBiz e 450 grandi aziende attraverso Quest2Travel. Il business dei pagamenti di Happay rimarrà con CRED.
MakeMyTrip ha firmado un Acuerdo de Transferencia Empresarial para adquirir la Plataforma de Gestión de Gastos Happay de CRED, fortaleciendo su posición en soluciones de viajes corporativos y gestión de gastos. La experiencia de Happay incluye más de 900 clientes corporativos y sólidas capacidades en desarrollo de productos y análisis impulsados por datos. Se espera que la transacción se cierre en un plazo de 90 días, con el equipo de Happay integrándose a MakeMyTrip mientras continúan apoyando a los clientes existentes. MakeMyTrip actualmente atiende a más de 59,000 clientes corporativos a través de MyBiz y a 450 grandes corporaciones a través de Quest2Travel. El negocio de pagos de Happay permanecerá con CRED.
MakeMyTrip은 CRED로부터 Happay 경비 관리 플랫폼을 인수하기 위한 사업 양도 계약을 체결하여 기업 여행 및 경비 관리 솔루션에서의 입지를 강화했습니다. Happay는 900개 이상의 기업 고객과 제품 개발 및 데이터 기반 인사이트에 대한 강력한 역량을 보유하고 있습니다. 이번 거래는 90일 이내에 완료될 것으로 예상되며, Happay 팀은 MakeMyTrip에 통합되면서 기존 고객을 계속 지원하게 됩니다. MakeMyTrip은 현재 MyBiz를 통해 59,000명 이상의 기업 고객을, Quest2Travel을 통해 450개의 대기업에 서비스하고 있습니다. Happay의 지급 결제 사업은 CRED와 함께 유지됩니다.
MakeMyTrip a signé un Accord de Transfert d'Affaires pour acquérir la Plateforme de Gestion des Dépenses Happay de CRED, renforçant ainsi sa position dans les solutions de voyage d'affaires et de gestion des dépenses. L'expertise de Happay comprend plus de 900 clients d'entreprise et des capacités solides en développement de produits et en analyses basées sur les données. La transaction devrait être finalisée dans un délai de 90 jours, avec l'équipe de Happay qui s'intègre à MakeMyTrip tout en continuant à soutenir les clients existants. MakeMyTrip sert actuellement plus de 59,000 clients d'entreprise via MyBiz et 450 grandes entreprises par l'intermédiaire de Quest2Travel. L'activité de paiement de Happay restera avec CRED.
MakeMyTrip hat eine Vereinbarung zur Geschäftsübertragung unterzeichnet, um die Happay Expense Management Platform von CRED zu erwerben, wodurch die Position im Bereich Unternehmensreisen und Ausgabenmanagementlösungen gestärkt wird. Happays Expertise umfasst über 900 Unternehmensklienten und starke Fähigkeiten in der Produktentwicklung sowie datengestützte Einblicke. Die Transaktion soll innerhalb von 90 Tagen abgeschlossen werden, wobei das Team von Happay in MakeMyTrip integriert wird und weiterhin bestehende Kunden unterstützt. MakeMyTrip betreut derzeit über 59.000 Unternehmensklienten über MyBiz und 450 große Unternehmen über Quest2Travel. Das Zahlungsgeschäft von Happay bleibt bei CRED.
- Acquisition expands corporate client base by adding 900+ Happay clients
- Strengthens expense management capabilities and product offerings
- Currently serving 59,000+ corporate clients via MyBiz platform
- Serving 450+ large enterprises through Quest2Travel platform
- None.
Insights
The acquisition of Happay strengthens MakeMyTrip's position in the lucrative corporate travel and expense management sector. With 900+ corporate clients from Happay joining MakeMyTrip's existing base of 59,000+ SME clients and 450+ large enterprises, this deal significantly expands their B2B footprint. The integration creates a comprehensive end-to-end solution combining travel booking with expense management, which should drive higher customer retention and revenue per client.
The Indian corporate travel market is rapidly digitizing and this acquisition gives MakeMyTrip a competitive edge by adding sophisticated expense management capabilities. While financial terms weren't disclosed, the strategic value is clear - it helps defend against competitors and positions MakeMyTrip to capture a larger share of the growing corporate travel spend. The deal structure, keeping Happay's payments business with CRED, also indicates a focused approach to acquiring only directly relevant capabilities.
This acquisition reflects broader industry trends where travel platforms are evolving into comprehensive business solutions providers. The corporate travel sector typically generates higher margins and more stable recurring revenue compared to consumer travel. By acquiring Happay's expense management platform, MakeMyTrip gains sophisticated technology that addresses a critical pain point for corporate clients - expense tracking and compliance.
The timing is strategic as Indian businesses are increasingly adopting digital solutions for travel and expense management. This move positions MakeMyTrip to capture a larger share of corporate budgets as business travel rebounds post-pandemic. The retention of Happay's team ensures continuity for existing clients while bringing valuable expertise in-house for future product development.
GURUGRAM,
Happay is a leader in expense management, with robust capabilities in product development, data-driven insights, and scalable solutions that consistently drive value and efficiency for clients. Under the agreement, Happay brand, its expense management business, and its dedicated team will transition to MakeMyTrip.
“We have consistently outpaced industry growth in the corporate travel sector over the past few years by focusing on innovation and seamless user experience,” said Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip. “The acquisition of Happay’s brand and expense management platform is a natural next step in our strategy to lead this space. By integrating Happay’s expertise, which spans over 900 corporate clients, MakeMyTrip is set to redefine the benchmarks once again in corporate travel and expense management in India.”
The transaction is expected to close within the next 90 days, subject to closing conditions. Happay’s team will continue to seamlessly support the existing client base while working in close partnership with MakeMyTrip’s corporate travel services team.
Happay’s payments business and team, which has focused on developing an innovative technology stack and business payments products, will remain with CRED. Most recently, this vertical launched a B2B payments solutions on Bharat Connect in partnership with NPCI.
Kunal Shah, Founder, CRED, said, “Our focus at CRED is on developing products that enable financial progress. By enabling each vertical to play to its strengths, we’re positioning both teams - who’ve built market-leading products and capabilities - to scale in their domains. I’m excited about the payments team’s opportunity to transform the B2B payments experience into one that’s frictionless, reliable and one that’s set for rapid growth.”
The corporate travel booking experience is increasingly moving towards self-service platforms that ensure policy compliance, transparency, and fraud control while driving cost efficiencies. MakeMyTrip is now serving more than 59,000 corporate clients via MyBiz (a platform suited for small and medium-sized corporates) and more than 450 large corporates through Quest2Travel (a platform suited for large enterprises).
About MakeMyTrip Limited
MakeMyTrip Limited is
We own and operate several well-recognized online brands, including MakeMyTrip, Goibibo, and redBus. Through our primary websites—www.makemytrip.com, www.goibibo.com, and www.redbus.in- and mobile platforms, travelers can research, plan, and book a wide range of travel services and products, both within
About CRED
CRED is the most rewarding payments platform for the affluent. With a mission to catalyse financial progress, CRED encourages financial prudence by enabling members with delightful payment experiences and rewards for good behaviour. Admission to CRED is based on credit scores for individuals. Download CRED on iOS and Android.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241118432629/en/
Source: MakeMyTrip Limited
FAQ
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