MakeMyTrip Acquires Happay to Enhance Corporate Travel Management

MakeMyTrip has taken a strategic step to expand its corporate travel and expense management capabilities by acquiring the Happay Expense Management platform from CRED. This acquisition includes the Happay brand, its expense management business, and its dedicated team, bolstering MakeMyTrip's position as a comprehensive corporate travel solutions provider.

The acquisition, executed through a Business Transfer Agreement, is expected to close within 90 days, subject to standard regulatory and closing conditions. Happay’s expertise in scalable expense management solutions, coupled with its data-driven insights, is set to complement MakeMyTrip’s innovation-driven approach to the corporate travel sector.

Happay, which serves over 900 corporate clients, has been a leader in expense management, delivering seamless solutions to businesses. With this acquisition, MakeMyTrip aims to redefine the corporate travel and expense management space in India.

Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip stated, “We have consistently outpaced industry growth in the corporate travel sector over the past few years by focusing on innovation and seamless user experience”.

He further added: “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.” 

CRED’s Continued Focus on B2B Payments

While the expense management business transitions to MakeMyTrip, Happay’s payments division will remain with CRED. This segment, which focuses on B2B payment solutions, has recently launched Bharat Connect, a platform developed in partnership with NPCI to streamline and enhance B2B transactions.

Kunal Shah, Founder of CRED, commented, “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 acquisition aligns with MakeMyTrip’s vision of delivering a holistic corporate travel and expense management experience. By integrating Happay’s innovative solutions and experienced team, MakeMyTrip is poised to further solidify its leadership in this rapidly growing sector. Meanwhile, CRED will continue to focus on innovating the B2B payments space, ensuring growth and excellence in its core areas.

This acquisition marks a significant milestone for both MakeMyTrip and CRED, enabling each to sharpen their focus and build leadership in their respective domains.

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