MakeMyTrip Acquires Happay to Enhance Corporate Travel Services and Expense Management Solutions

MakeMyTrip Expands Corporate Travel Services with Acquisition of Happay

MakeMyTrip, India's premier online travel company, is set to enhance its corporate travel and expense management capabilities through a significant acquisition. The company announces a Business Transfer Agreement to acquire the Happay Expense Management Platform from CRED. This move is a strategic step towards reinforcing MakeMyTrip's commitment to providing advanced solutions in corporate travel management. Happay is well-regarded for its innovative expense management services, catering to over 900 corporate clients and offering data-driven insights that streamline financial operations. By integrating Happay's capabilities, MakeMyTrip aims to redefine the standards of corporate travel management in India.

The acquisition involves the full transition of the Happay brand, its expense management business, and the dedicated team to MakeMyTrip. Rajesh Magow, Co-Founder and Group CEO of MakeMyTrip, emphasizes that this acquisition is a natural progression in the company's strategy, which has consistently outperformed industry growth through innovation and enhanced user experiences. With a focus on improving operational efficiency for corporate clients, MakeMyTrip plans to leverage Happay’s expertise to provide a more seamless and efficient travel management experience. The transaction is anticipated to close within 90 days, ensuring that Happay's team remains available to support existing clients while collaborating with MakeMyTrip's corporate travel services.

This acquisition aligns with the growing trend towards self-service platforms within the corporate travel sector. MakeMyTrip currently serves over 59,000 corporate clients through its MyBiz platform and more than 450 large corporates via Quest2Travel. This increasing demand for user-friendly solutions reflects a shift towards enhancing policy compliance and cost efficiency. By integrating Happay's expense management capabilities, MakeMyTrip positions itself as the most comprehensive and trusted platform for corporate travelers and partners. With over 77 million lifetime transacted users, the company continues to innovate and expand its service offerings to meet the evolving needs of its clientele.

In a parallel development, CRED retains Happay’s payments business, which is set to grow with the recent launch of a B2B payments solution in partnership with NPCI. Kunal Shah, Founder of CRED, highlights the importance of allowing each team to focus on their respective strengths, thereby fostering growth in their domains. As the corporate travel landscape evolves, MakeMyTrip's acquisition of Happay represents a strategic alignment to enhance its position in the market, emphasizing a commitment to innovation and comprehensive service delivery.