MakeMyTrip Acquires Happay in Move to Strengthen Corporate Travel Biz
Skift Take
For MakeMyTrip, the acquisition is a calculated bet on the future of India’s corporate travel market — a bet that could pay off handsomely as the market doubles by 2030.
Online travel company MakeMyTrip on Monday announced its acquisition of expense management platform Happay from Indian fintech company CRED. The deal would allow MakeMyTrip to deepen its foothold in the expanding corporate travel market.
Happay’s team would “continue to seamlessly support the existing client base while working in close partnership with MakeMyTrip’s corporate travel services team,” MakeMyTrip said in a statement.
MakeMyTrip did not disclose the financial terms; Cred acquired Happay in a $180 million deal in 2021.
Happay was founded in 2012 and provides travel and expense management software for corporates. In May 2023, the company underwent a restructuring that led to an almost 35% reduction in its workforce.
