MakeMyTrip acquires CRED’s expense platform Happay

Online travel aggregator MakeMyTrip has acquired CRED’s expense management platform Happay. MakeMyTrip said that this acquisition is a part of the company’s commitment to become the “go-to platform for comprehensive corporate travel and expense management solutions.” This acquisition is a “business transfer agreement,” under which Happay’s brand, its expense management business, and its team will transition to MakeMyTrip.

The companies expect the transaction to close in the next 90 days. During this period, Happay’s team will continue to serve its 900+ corporate clients in collaboration with MakeMyTrip’s corporate travel services. While Happay’s expense team is moving to MakeMyTrip, its payments business and team, which works on developing business payments products, will remain with CRED. Most recently, this vertical launched a business-to-business (B2B) payments solution on Bharat Connect in partnership with the National Payments Corporation of India…