In an exciting move that could reshape the corporate travel and expense management landscape, MakeMyTrip (MMT) has announced its acquisition of Happay’s expense management business, along with its brand and dedicated team. This strategic acquisition strengthens MMT’s position as a leader in corporate travel services, paving the way for seamless integrations and advanced solutions for businesses.
Here’s everything you need to know about this landmark deal and what it means for the future of corporate travel and expense management.
Happay Joins Forces with MakeMyTrip
1. What’s Included in the Deal?
– Transition to MMT: Happay’s expense management business, brand, and team will move to MakeMyTrip.
– Focus on Corporate Travel: Happay brings its expertise in product development, data-driven insights, and scalable solutions that have already earned the trust of over 900 corporate clients.
– Payments Business Remains with CRED: Happay’s payments team and its innovative tech stack will stay under the umbrella of CRED, continuing their journey to revolutionize B2B payments.
2. The Vision Behind the Acquisition
Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip, shared,
“We’ve consistently outpaced industry growth in the corporate travel sector by focusing on innovation and a seamless user experience. This acquisition is a natural next step in our strategy to lead this space. By integrating Happay’s expertise, we aim to redefine benchmarks for corporate travel and expense management in India.”
The transaction is expected to close within the next 90 days, with Happay’s team working closely alongside MMT’s corporate travel services team.
Building on Strong Foundations
MakeMyTrip’s Corporate Travel Ecosystem
The acquisition will complement MMT’s existing platforms:
1. MyBiz: Tailored for small and medium businesses, MyBiz serves over 59,000 SMEs, making corporate travel bookings easy and cost-efficient.
2. Quest2Travel: Designed for large enterprises, this platform already supports 450+ corporates.
By adding Happay’s expense management capabilities, MMT aims to offer an end-to-end solution, from booking travel to managing expenses, all under one roof.
CRED’s Focus on Payments Innovation
While Happay’s expense management business transitions to MakeMyTrip, its payments business will remain with CRED. Kunal Shah, Founder of CRED, emphasized:
“Our focus is on developing products that enable financial progress. With each vertical playing to its strengths, we’re setting the stage for rapid growth in frictionless, reliable B2B payments.”
This separation ensures that both teams can scale effectively, excelling in their respective domains.
What This Means for Businesses
1. Enhanced Corporate Travel Experience
With Happay’s integration, MMT is set to simplify and enhance corporate travel management, combining booking and expense tracking in a unified, user-friendly platform.
2. Focus on Innovation
Both MakeMyTrip and Happay bring innovation to the table. This collaboration promises smarter, more efficient solutions for businesses of all sizes.
3. Opportunities for Growth
For businesses leveraging MMT’s platforms, the addition of Happay means better tools for managing expenses and streamlining workflows, which could translate to significant cost and time savings.
Takeaway: A Win-Win for Businesses
This acquisition is more than just a business deal—it’s a leap forward in transforming how Indian enterprises manage travel and expenses. Whether you’re a small startup or a large corporation, expect a more efficient, integrated, and user-centric solution from this partnership.
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