MakeMyTrip to acquire Happay from Cred
MakeMyTrip is set to acquire expense management platform Happay from fintech unicorn Cred. This acquisition will give a stronger foothold to the Gurugram-based company in the corporate travel booking space.
Cred had acquired Bengaluru-based startup Happay in 2021 in a cash-and-stock deal worth $180 million.
Under the arrangement, the Happay brand along with its expense management business and the vertical’s dedicated team will join MakeMyTrip, the company said in a news release Monday.
Cred will retain the payments business of Happay, which has close to half of Happay’s 240 employees, people in the know said.
Financial terms of the deal and the exact structuring of the teams were not officially disclosed.
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