MakeMyTrip acquires Happay Expense Management platform from CRED

MakeMyTrip has signed a Business Transfer Agreement to acquire the Happay Expense Management Platform from CRED. This move strengthens MakeMyTrip’s goal of becoming a comprehensive solution provider for corporate travel and expense management.

Happay, recognised for its strong product development, data-driven insights, and scalable expense management solutions, will now join forces with MakeMyTrip. The acquisition includes the Happay brand, its expense management business, and its dedicated team. The transaction is expected to be completed within 90 days, subject to customary closing conditions.

"We have consistently outpaced industry growth in the corporate travel sector over the past few years by focusing on innovation and seamless user experience,” said Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip. “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.”

As part of the agreement, Happay’s team will continue to support its existing clients while working closely with MakeMyTrip’s corporate travel services team to ensure a smooth transition. However, Happay’s payments business, which focuses on B2B payment solutions, will remain with CRED. This division recently launched a B2B payments platform, Bharat Connect, in partnership with NPCI.

Kunal Shah, Founder, CRED, said, “Our focus at CRED 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 one that’s set for rapid growth.”