MakeMyTrip Acquires Happay to Strengthen Corporate Travel and Expense Management Offerings
Online travel aggregator MakeMyTrip (MTT) has announced the acquisition of Happay, the fintech unicorn CRED’s expense management platform. In a move aimed at bolstering its corporate travel and expense management services, MakeMyTrip has signed a business transfer agreement to acquire Happay from the Kunal Shah-led company. This acquisition positions MakeMyTrip to offer an even more comprehensive solution for managing corporate travel expenses, further expanding its foothold in India’s rapidly growing business travel segment.
The deal marks an important strategic shift for MakeMyTrip as it looks to solidify its leadership position in the corporate travel market. The company has been a key player in the Indian travel industry, primarily focusing on consumer travel. However, with this acquisition, MakeMyTrip aims to build a one-stop platform catering not only to travel bookings but also to corporate clients’ expense management needs, addressing a crucial gap in the Indian market.
Rajesh Magow, cofounder and group chief executive of MakeMyTrip, expressed the company’s vision for the acquisition, stating, “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.”
Founded in 2012, Happay provides end-to-end expense management solutions designed for businesses. Its platform helps companies track and manage employee expenses, reimbursements, and corporate travel costs seamlessly through digital tools. With its ability to automate and streamline the often cumbersome process of expense reporting, Happay has become a trusted platform for over 900 corporate clients in India, ranging from small startups to large enterprises. The fintech unicorn’s platform includes features such as real-time expense tracking, pre-paid cards for employees, and integrated workflows for expense approvals, making it a popular choice for businesses looking to simplify their corporate expense management.
MakeMyTrip’s acquisition of Happay is expected to provide a significant boost to the company’s corporate travel solutions. By integrating Happay’s technology with its own travel booking services, MakeMyTrip will be able to offer a fully integrated travel and expense management platform for businesses. This includes everything from booking flights and hotels to managing receipts and automating expense reporting—all within a single interface. The move is expected to not only increase MakeMyTrip’s value proposition for corporate clients but also help it compete with global giants in the business travel space.
In addition to enhancing MakeMyTrip’s service offering, the acquisition also underscores the company’s broader strategy to expand its B2B (business-to-business) services. Over the past few years, the corporate travel segment has seen significant growth in India, driven by increased business activity and the return to office post-pandemic. Companies are increasingly looking for tech-driven solutions to manage employee travel, expenses, and compliance, and MakeMyTrip aims to tap into this demand by providing an all-in-one platform for corporate travel management.
For Happay, the acquisition by MakeMyTrip represents a significant opportunity to scale its services further. Being integrated into one of India’s largest travel aggregators gives Happay access to a much larger customer base and an expanded set of resources to enhance its product offerings.
This move also aligns with MakeMyTrip’s ongoing digital transformation, as the company seeks to broaden its reach beyond traditional travel booking. The corporate travel and expense management sector is seen as a lucrative market, and with Happay’s acquisition, MakeMyTrip looks poised to capture a significant share of it. As businesses increasingly adopt digital tools for managing corporate travel and expenses, MakeMyTrip’s comprehensive approach is likely to make it a dominant player in this growing market.
With this acquisition, MakeMyTrip is positioning itself as a comprehensive provider of both leisure and business travel solutions, setting the stage for future growth in India’s competitive travel industry.
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