Cred to acquire expense management start-up Happay at $180 mn valuation

Happay is a business expense, payments and travel management platform serving over 6,000 businesses

Fintech unicorn Cred will acquire expense management start-up Happay at a valuation of $180 million in a cash and stock deal.

While Happay will operate as a separate entity, its employees will work closely with Cred’s management to leverage its ecosystem, build distribution, expand the product offering and drive scale. Happay’s 230-member team will get all the benefits extended to Cred employees, including its ESOP program.

“The move will bring in synergies between Cred, the majority of whose members are professionals who use it to manage personal payments across multiple credit cards, and Happay, the only unified platform for business