MakeMyTrip inks deal with Cred to acquire Happay Expense Platform

Online travel service provider MakeMyTrip has announced a business transfer agreement to acquire the Happay Expense Management Platform from Cred. This acquisition strengthens MakeMyTrip’s position as a platform for corporate travel and expense management solutions.  

 

Expense management platform Happay will transition its brand, expense management business, and team to MakeMyTrip under the agreement.

 

Rajesh Magow, co-founder and group CEO, MakeMyTrip, expressed enthusiasm for the acquisition stating, “We have consistently outpaced industry growth in the corporate travel sector over the past few years by focusing on innovation and seamless user experience. 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.”

 

 

The transaction is expected to conclude within 90 days, subject to standard closing conditions. Happay’s team will continue to serve its existing clients and collaborate with MakeMyTrip’s corporate travel services team to offer enhanced solutions.

 

Happay’s payments business and team, focused on business payments products and technology, will remain with Cred. Recently, this vertical launched B2B payment solutions on Bharat Connect in partnership with the National Payments Corporation of India.

 

Kunal Shah, founder of Cred, shared his vision for the transition saying, “Our focus 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 set for rapid growth.”

 

As corporate travel shifts towards self-service platforms offering policy compliance, transparency, fraud control, and cost efficiencies, MakeMyTrip continues to expand its reach. The company serves over 59,000 corporate clients through MyBiz, catering to small and medium-sized businesses, and more than 450 large corporates via Quest2Travel, designed for enterprise-level clients.

 

The integration of Happay’s capabilities is expected to position MakeMyTrip as a leader in corporate travel and expense management in India.